End of Operations at the Gifu Store and Dissolution of Gifu Takashimaya
First written in FY2024-Q2. 1 of 3 entries say "Achieved", first in FY2027-H1. Latest entry: FY2027-H1.
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- FY2027-H1AchievedAnnual report
「株式会社岐阜髙島屋, formerly a consolidated subsidiary of the Company, was excluded from the scope of consolidation following completion of its liquidation on 27 July 2026.」
Following the decision to cease operations and dissolve the company in the previous filing, liquidation of Gifu Takashimaya was completed on 27 July 2026. - FY2024-Q3Recognition of impairment lossesAnnual report
「Impairment loss ¥906 million *2 Primarily related to the Takashimaya Gifu store, which will close on 31 July 2024.」
In connection with the closure of the Gifu store, the company recorded an impairment loss of ¥906 million. Segment information shows ¥858 million in the department-store business and ¥48 million in the commercial development business. - FY2024-Q2First statedAnnual report
「The Gifu store has been operating for 46 years, and its core facilities, including electrical, water supply and drainage, and air-conditioning systems, have deteriorated, making major upgrades throughout the building necessary. However, agreement could not be reached with the landlord on carrying out the work. ... For these reasons, we resolved to close the Gifu store on 31 July 2024 and dissolve Takashimaya Gifu on 31 August 2024.」
As a significant subsequent event, the company resolved to close the store on 31 July 2024 and dissolve the subsidiary on 31 August 2024 due to aging core facilities, failure to reach agreement with the landlord, deterioration in the operating environment caused by the declining birthrate and aging population, and the lack of prospects for a recovery in performance. Accordingly, it recorded an impairment loss of ¥855 million.