Customer Acquisition and Tourist Initiatives at Overseas Stores

「At Singapore Takashimaya, revenue and profit declined on a local-currency basis, but revenue and profit increased on a yen basis due to the weaker yen. At Shanghai Takashimaya, revenue increased and the business returned to profitability, partly as a result of efforts to strengthen its earnings base, including attracting new tenants. We will continue to pursue cost reductions alongside these efforts to generate further profit growth. At Ho Chi Minh Takashimaya, which celebrated its 10th anniversary, revenue and profit increased as a result of strengthening the product lineup in growth areas such as children's products and in cosmetics, which enjoy strong customer support, while minimizing cost increases. At Siam Takashimaya, revenue increased and the deficit narrowed, supported by steady sales to domestic customers and the promotion of cost controls.」

「Singapore Takashimaya posted modestly lower sales and earnings due to sluggish consumption amid prolonged inflation and the impact of higher costs. Shanghai Takashimaya continued efforts to strengthen its earnings base, including attracting new tenants, but posted lower sales and a loss due to the significant impact of consumption slowing amid the economic downturn. Ho Chi Minh Takashimaya posted higher sales and earnings after strengthening its product range in growth areas such as children's goods and popular cosmetics, while minimizing cost increases. Siam Takashimaya posted lower sales and a loss because domestic customer and tourist sales remained sluggish due to the Myanmar earthquake in March of the previous year, heightened geopolitical risks and the stronger Thai baht.」

「Singapore Takashimaya posted lower sales and earnings due to sluggish consumption amid prolonged inflation, higher costs and the impact of the stronger yen. Shanghai Takashimaya continued efforts to strengthen its earnings base, including attracting new tenants, but posted lower sales and a loss due to the significant impact of consumption slowing amid the economic downturn. Ho Chi Minh Takashimaya posted higher sales and earnings after strengthening its product range in growth areas such as children's goods and popular cosmetics, while minimizing cost increases. Siam Takashimaya posted lower sales and a loss as domestic customer and tourist sales were affected by sluggish demand following the Myanmar earthquake in March and heightened geopolitical risks.」

「Singapore Takashimaya posted higher sales due to foreign exchange effects, but consumption remained sluggish amid prolonged inflation and tourists had still not returned to pre-COVID levels. … Shanghai Takashimaya posted lower sales and a loss due to the significant impact of the downturn in the Chinese economy. Ho Chi Minh Takashimaya posted higher sales and earnings.」

「Singapore Takashimaya posted higher sales and earnings due to foreign exchange effects, but the outlook remains uncertain as domestic customers are increasingly focused on preserving household spending amid prolonged inflation and funds are flowing overseas as a result of the stronger Singapore dollar. In Vietnam, domestic demand slowed as economic sentiment deteriorated, but Ho Chi Minh Takashimaya posted higher sales and earnings after pursuing store renovations and strengthening its product range in growth areas such as children's goods, as well as cosmetics and food products popular with customers. Siam Takashimaya in Thailand posted lower sales. However, its loss narrowed as it pursued initiatives to improve product margins and reduce costs. Shanghai Takashimaya posted lower sales and earnings due to the significant impact of the prolonged downturn in the Chinese economy.」

「At Singapore Takashimaya, sales and operating profit increased, driven by resilient domestic customers, the recovery in tourists and foreign exchange effects, despite the impact of renovation work on major brands ahead of future growth. … Siam Takashimaya in Thailand also posted higher sales, partly due to the expansion of its range of Japanese brands, events featuring regional products and foreign exchange effects. … At Shanghai Takashimaya, efforts to strengthen the earnings base, including attracting new tenants in response to market changes, continued, but the prolonged downturn in the Chinese economy had a significant impact, resulting in lower sales and earnings.」

「Singapore Takashimaya saw a substantial increase in sales due to the rebound from the previous year's COVID-19 impact, resilient domestic demand and the recovery in inbound tourism. Sales also recovered at Ho Chi Minh Takashimaya, and both companies posted higher sales and earnings. At Siam Takashimaya, sales recovered as customer traffic increased, resulting in higher sales and a narrower loss. Shanghai Takashimaya posted substantially higher sales, partly because of the rebound from the 67-day closure caused by COVID-19 in the previous year, but earnings declined because the offsetting rebound in the transfer of COVID-19-related costs associated with the closure to extraordinary losses was also substantial.」

「Singapore Takashimaya saw sales increase on the rebound from the impact of COVID-19, resilient domestic demand and the recovery in inbound tourism. Sales also recovered at Ho Chi Minh Takashimaya, and both companies posted higher sales and earnings. Siam Takashimaya also posted higher sales as sales recovered, narrowing its loss. Shanghai Takashimaya, meanwhile, saw its sales recovery delayed by a temporary rapid increase in COVID-19 infections, resulting in lower sales and earnings.」

「In the overseas business from January to September 2022, sales recovered as COVID-19 restrictions were lifted gradually, and Singapore Takashimaya, Ho Chi Minh Takashimaya and Siam Takashimaya posted higher sales and earnings.」

「In the overseas business from January to June 2022, sales recovered as COVID-19 restrictions were lifted gradually, and Singapore Takashimaya, Ho Chi Minh Takashimaya and Siam Takashimaya posted higher sales and earnings.」

「In the overseas business from January to March 2022, sales recovered as COVID-19 restrictions were lifted gradually, resulting in higher sales and earnings.」

「At the overseas stores, the prolonged impact of COVID-19 in each country remains a concern. With no recovery in the number of overseas travelers in sight, each store will work to secure earnings by reorganizing its merchandising mix to reflect changing customer needs, attracting new customers and deepening relationships with existing customers, and strengthening cooperation with local subsidiaries.」

「In the overseas business from January to September 2021, the impact of COVID-19 intensified again in the ASEAN region from April, putting all companies except Shanghai Takashimaya under severe operating conditions. Singapore Takashimaya continued operating restrictions, including limits on customer entry, throughout the period, while Siam Takashimaya reduced its hours from mid-April. Despite these effects from COVID-19, both stores posted higher sales because of the year-on-year rebound from store closures. Ho Chi Minh Takashimaya operated only its food section from the end of May, but closed the entire store in July, resulting in lower sales.」

「In the overseas business from January to June 2021, the impact of COVID-19 intensified again in the ASEAN region from April, putting all companies except Shanghai Takashimaya under severe operating conditions. Singapore Takashimaya continued to restrict store entry, among other operating measures, throughout the period. Ho Chi Minh Takashimaya closed the entire store except for food products from 31 May, while Siam Takashimaya reduced its hours from 15 April. Nevertheless, all companies posted higher sales because of the year-on-year rebound from store closures caused by COVID-19.」

「In the overseas business from January to March 2021, sales recovered at the Shanghai Takashimaya, Ho Chi Minh Takashimaya and Siam Takashimaya stores, where the impact of COVID-19 was limited, resulting in higher sales and earnings. Singapore Takashimaya, however, continued to face operating restrictions, including reduced hours, resulting in lower sales and earnings.」

「At the core Singapore Takashimaya store, sales from tourists and events remained substantially lower. Although measures such as strengthening online sales were implemented, sales declined substantially from the previous year.」

「All stores subsequently resumed operations throughout their premises. Although some stores showed signs of a sales recovery, sales declined substantially from the previous year.」

「Overseas commercial facilities also implemented full or partial temporary closures and shortened operating hours, while sales to foreign tourists declined due to entry restrictions.」

「Overseas commercial facilities also experienced full or partial temporary closures and shortened operating hours, while tourist sales declined due to entry restrictions. The impact of COVID-19 on overseas operations continues, and the risk of a prolonged negative impact on business performance is possible.」

「Overseas, Takashimaya Singapore increased sales as a result of renovations and other factors, but revenue declined and profit increased after a change in accounting policy due to the adoption of IFRS 16, which reduced rental income. Shanghai Takashimaya, which decided in August to continue operating after changing its plans, recorded increases in both revenue and profit, helped by sales revenue. Ho Chi Minh Takashimaya also recorded increases in both revenue and profit, as seasonal events proved effective.」

「Overseas, Takashimaya Singapore increased revenue as its initiatives commemorating its 25th anniversary proved effective. Shanghai Takashimaya secured higher revenue despite slower sales growth due to the impact of the local economy. Ho Chi Minh Takashimaya increased revenue as initiatives including events commemorating its 1st anniversary proved effective amid local economic growth.」

「Overseas, Takashimaya Singapore increased revenue through initiatives commemorating its 25th anniversary and the recovery of the local economy that began in the second half of the previous year. Shanghai Takashimaya increased sales through initiatives differentiating its product range as a Japanese department store and improving customer retention. Ho Chi Minh Takashimaya increased revenue as the local economy expanded, supported by steady growth in card members and effective member promotions.」

「Overseas, Takashimaya Singapore increased revenue through initiatives commemorating its 25th anniversary and the recovery of the local economy that began in the second half of the previous year. Shanghai Takashimaya steadily increased sales through initiatives differentiating it as a Japanese department store and strengthening its product range to meet local needs. Ho Chi Minh Takashimaya increased revenue as the number of card members grew amid continued expansion of the local economy.」

「Takashimaya Singapore strengthened initiatives targeting proprietary-card members and overseas tourists, pursued an advertising strategy centered on digital media, and worked to reduce selling, general and administrative expenses, resulting in increases in both revenue and profit.」

「Overseas, Takashimaya Singapore increased revenue as it strengthened promotional initiatives for proprietary-card customers from August onward, amid signs of an improving domestic business climate, while tourist sales also remained strong.」

「Shanghai Takashimaya increased sales against a backdrop of strong personal consumption. In addition to differentiating the store through "Japan Pavilion," a dedicated sales area introducing Japanese culture and selling Japanese products, it strengthened policies for card customers, increasing the number of members, improving customer retention and raising revenue. Ho Chi Minh Takashimaya, which opened in July last year, steadily acquired members for its proprietary card. Sales initiatives based on customer feedback and joint promotional campaigns with specialty stores also proved effective, and business performance progressed steadily.」

「Shanghai Takashimaya Department Store Co., Ltd. saw an increase in customer traffic and higher revenue in local-currency terms, partly because customer retention and sales initiatives such as its 3rd anniversary celebrations performed well. However, revenue in yen terms declined due to the foreign-exchange impact of the stronger yen.」

「Takashimaya Singapore Ltd. renovated the luxury brand sales floors on the 1st and 2nd floors and otherwise renovated its sales floors based on customer feedback. It also pursued a house-card strategy to increase regular customers and strengthened initiatives targeting tourists from overseas.」

「Takashimaya Singapore renovated its sales floors based on customer feedback, pursued a house-card strategy to attract customers, and strengthened initiatives targeting overseas tourists, resulting in higher profit.」