J. FRONT RETAILING, which operates Daimaru and Matsuzakaya, is expanding its businesses beyond department stores. Interim net profit for the six months ended August rose 27% year on year, while the company moves ahead with a review of PARCO stores and the sale of PLAZA, among other initiatives, and steps up the development of esports-related businesses. Department stores remain the core of the overall business, but the company is also seeking growth opportunities in non-retail fields.
J. FRONT RETAILING’s interim results through August, including those for Daimaru Tokyo, showed net profit rising 27% year on year to ¥12.9 billion, against a backdrop of the post-pandemic recovery and a recovery in inbound demand. Department store operations remain strong, and it has been reported that sales centred on luxury goods have contributed.
The company has expressed concern about relying solely on department stores and indicated a policy of increasing the weighting of its non-retail businesses. Specifically, it has made clear its aim of directing growth opportunities into new areas by proceeding with the closure of some PARCO stores and the sale of the former Sony Plaza business.