Daiwa Co.,Ltd.

Daiwa Co.,Ltd. is a corporate group operating across a range of businesses, centered on a community-based department store chain with its department store business as its core. During the interim period, although net sales declined slightly year on year, the group pursued a differentiation strategy focused on expanding sales of products for affluent customers and high-value-added products, with its department store business as its mainstay. It sought to attract new customers by holding large-scale product fairs and using digital promotions, but was affected by extraordinary losses, including impairment losses on fixed assets held by a consolidated subsidiary. Going forward, the group intends to establish a stable earnings base by concentrating management resources on its department store business.