Worth reading
73In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
35
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales0.0%
基準 2,030Target2,030Hundreds of millions of yen
Operating profit0.0%
基準 2,030Target2,030Hundreds of millions of yen
ROE0.0pt
基準 2,030Target2,030％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planFiscal 2027 targets in the initial plan dated 14 April 2025: total sales of ¥155.0 billion, operating profit of ¥5.5 billion, and ROE of 10% or more → Fiscal 2025 results: total sales of ¥123.0 billion, operating profit of ¥2.6 billion, and ROE of 8.0%-0.1%Calculated from the two disclosed figures
Total investment plan¥20.5 billion (cumulative for fiscal 2025 through fiscal 2027)
Investment amount by sectorField Concentrated investment in Ginza (stores and real estate development) / Amount ¥5.7 billion, Field Growth investment: promoting omnichannel operations and strengthening CRM / Amount ¥1 billion, Field Other growth investment / Amount ¥2 billion, Field Investment to strengthen the business foundation: systems (maintenance) / Amount ¥2.5 billion, Field Investment to strengthen the business foundation: safety and security / Amount ¥3 billion, Field Investment to strengthen the business foundation: human capital / Amount ¥500 million, Field Shareholder Returns / Amount ¥5.8 billion
Statements about the use of capital
Payout ratio / DOE policyDOE of 2% or more to maintain stable dividends. The annual dividend for fiscal 2026 is expected to remain at ¥12. The applicable period is Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyIn fiscal 2025, the company will acquire treasury shares equivalent to 4.32% of shares outstanding. Total number of shares to be acquired: 2.30 million; total acquisition cost: ¥4.0 billion. Announced on 9 October 2025.
Key initiatives
01Concentrated investment in Ginza
02Expanding the circle through regional co-creation businesses
03Strengthening the company’s presence
04Accelerating the integration of physical and digital operations centered on “ID customers”
05Positioning of the matsuyaginza.com business: strategic investment for the future
06Expanding the content business
07Promoting sustainable management
Plan assumptionsAlthough a gradual economic recovery is expected as a result of government economic measures, conditions remain uncertain, including rising prices associated with geopolitical risks and restrained consumer sentiment, Rising prices and labor costs, Accelerating increases in interest rates, The impact on inbound sales of the Chinese government’s advisory against travel to Japan
Segment targetSegment Department store business / Indicator ID customer sales / Fiscal 2026 ¥28.5 billion / FY2027 ¥32 billion / FY2030 ¥40 billion
Non-financial targetsIndicator Scope 1 and 2 greenhouse gas emissions / Target 50% reduction from fiscal 2013 / Timing FY2030
Risks identified by the company
Economic uncertainty
Rising prices and labor costs
Accelerating increases in interest rates
Changes in inbound demand
The impact on sales of the Chinese government’s advisory against travel to Japan
Rising prices associated with geopolitical risks
Restrained consumer sentiment
Reason for revision or withdrawal
The plan was reviewed in light of recent business trends and changes in the economic environment. Economic uncertainty includes rising prices and labor costs and accelerating increases in interest rates, while changes in inbound demand included the impact on sales of the Chinese government’s advisory against travel to Japan. The company also took seriously the gap from assumptions arising from structural changes in tax-free sales and adjusted the numerical plan accordingly.
| Item | Details |
|---|---|
| Plan name | Management Plan “Aiming to Become a Global Destination” |
| Plan period | Fiscal 2025 to fiscal 2030 (with a long-term perspective looking ahead to 2050) |
| Progress against the plan | Partially revised |
| Sales Target | ¥165.0–180.0 billion (initial fiscal 2030 target) → ¥150.0–160.0 billion (updated fiscal 2030 target) |
| Operating profit target | ¥8.0–8.5 billion (initial fiscal 2030 target) → ¥4.0–5.0 billion (updated fiscal 2030 target) |
| ROE target | 11% or more (initial fiscal 2030 target) → 10% or more (updated fiscal 2030 target) |
| Payout ratio / DOE policy | DOE of 2% or more to maintain stable dividends. The annual dividend for fiscal 2026 is expected to remain at ¥12. The applicable period is Not disclosed. |
| Treasury share acquisition policy | In fiscal 2025, the company will acquire treasury shares equivalent to 4.32% of shares outstanding. Total number of shares to be acquired: 2.30 million; total acquisition cost: ¥4.0 billion. Announced on 9 October 2025. |
| Total investment plan | ¥20.5 billion (cumulative for fiscal 2025 through fiscal 2027) |
| Investment amount by sector | Field Concentrated investment in Ginza (stores and real estate development) / Amount ¥5.7 billion, Field Growth investment: promoting omnichannel operations and strengthening CRM / Amount ¥1 billion, Field Other growth investment / Amount ¥2 billion, Field Investment to strengthen the business foundation: systems (maintenance) / Amount ¥2.5 billion, Field Investment to strengthen the business foundation: safety and security / Amount ¥3 billion, Field Investment to strengthen the business foundation: human capital / Amount ¥500 million, Field Shareholder Returns / Amount ¥5.8 billion |
| Segment target | Segment Department store business / Indicator ID customer sales / Fiscal 2026 ¥28.5 billion / FY2027 ¥32 billion / FY2030 ¥40 billion |
| Non-financial targets | Indicator Scope 1 and 2 greenhouse gas emissions / Target 50% reduction from fiscal 2013 / Timing FY2030 |
| Plan assumptions | Although a gradual economic recovery is expected as a result of government economic measures, conditions remain uncertain, including rising prices associated with geopolitical risks and restrained consumer sentiment, Rising prices and labor costs, Accelerating increases in interest rates, The impact on inbound sales of the Chinese government’s advisory against travel to Japan |
| Key initiatives | Concentrated investment in Ginza, Expanding the circle through regional co-creation businesses, Strengthening the company’s presence, Accelerating the integration of physical and digital operations centered on “ID customers”, Positioning of the matsuyaginza.com business: strategic investment for the future, Expanding the content business, Promoting sustainable management |
| Results under the previous plan | Fiscal 2027 targets in the initial plan dated 14 April 2025: total sales of ¥155.0 billion, operating profit of ¥5.5 billion, and ROE of 10% or more → Fiscal 2025 results: total sales of ¥123.0 billion, operating profit of ¥2.6 billion, and ROE of 8.0% |
| Reason for revision or withdrawal | The plan was reviewed in light of recent business trends and changes in the economic environment. Economic uncertainty includes rising prices and labor costs and accelerating increases in interest rates, while changes in inbound demand included the impact on sales of the Chinese government’s advisory against travel to Japan. The company also took seriously the gap from assumptions arising from structural changes in tax-free sales and adjusted the numerical plan accordingly. |
| Risks identified | Economic uncertainty, Rising prices and labor costs, Accelerating increases in interest rates, Changes in inbound demand, The impact on sales of the Chinese government’s advisory against travel to Japan, Rising prices associated with geopolitical risks, Restrained consumer sentiment |
| Publication date | 14 April 2026 |
Items this document does not state (7)
Operating profit margin targetNet income targetROIC targetCost of capitalSelf-assessment of PBR and share priceSize of the Target MarketDate of board resolution
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.The numerical plan was adjusted to reflect the gap from assumptions arising from recent business trends and changes in the economic environment, rising prices and labor costs, the accelerating rise in interest rates, the impact on inbound sales of the Chinese government’s advisory against travel to Japan, and structural changes in tax-free sales.
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