Company Profile

Pursue Machi-dukuri Strategy and elevate the intrinsic appeal of department stores
Achieved record high operating profit and ordinary profit for the first half
Upward revision to full-year forecast with aim of achieving further growth

During the first half, performance was favorable at both domestic department stores and group companies as both revenue and profits increased on the normalization of social and economic activities, which resulted in firm personal consumption and increased sales among inbound tourists. Additionally, performance exceeded the upward revision to profit forecasts made in June, resulting in record high operating profit and ordinary profit. With an additional upward revision to full-year forecasts, Takashimaya will aim for further growth in operating profit, ordinary profit, and net profit.

However, the operating environment influencing the Takashimaya Group, including increases in the cost of living, changes in consumer behavior, and economic stagnation caused by the deterioration of international stability, remains unpredictable. Amid such conditions, Takashimaya is pursuing its Machi-dukuri Strategy, through which the comprehensive strengths of the department stores, specialty stores, and group companies are applied towards meeting the needs of customers while also contributing to community revitalization. At the same time, Takashimaya is working to elevate the intrinsic appeal of department stores, including one-stop shopping, cultural dissemination, and hospitality unique to the department store experience.

Takashimaya is also pursuing further initiatives aimed at addressing environmental issues and improving employee engagement. Specifically, working to realize a circular society and carbon-free future, we are expanding the range of items eligible for collection through its sustainable/circular business that collects, reconstructs, and sells repurposed clothing. Takashimaya has also adopted a new method of procuring renewable energy. Furthermore, we are working to improve the labor environments of employees, including for the sales employees of business partners, by establishing new business holidays other than New Year’s Day and by making renovations to employee welfare facilities.

With the Department Store segment, Takashimaya strives to accurately identify lifestyle changes and collaborate with business partners as well as engage in internal development activities towards proposing new sales spaces and products designed to meet the needs of consumers in a variety of ways. We will also work to further increase the appeal of stores by holding events that could not be held during the COVID-19 pandemic, including events for disseminating arts and culture, and exhibits that incorporate themes related to social interest.

Looking at the Commercial Property Development segment, in October the specialty store zone T8 opened on the land adjacent to the Kyoto Store, marking the creation of the Kyoto Takashimaya Shopping Center. The Shopping Center combines the fine products and services of the department store with new content in the form of modern art and sub-culture as well as entertainment introduced by the specialty store zone. Based on the concept of being Kyoto’s No. 1 spot for gathering, Kyoto Takashimaya S.C. will offer a level of enjoyment that is unique to the brick-and-mortar shopping experience.

Looking at the Finance segment, in-store use of SUGO-TSUMI was started in July. SUGO-TSUMI is the app version of the Takashimaya Rose Circle (Tomonokai club) that allows members whose accounts have reached maturity to use their account balances towards shopping. In August, Takashimaya began offering the Takashimaya Business Platinum card for business owners and sole proprietors, and is engaged in activities to increase new enrollment. We will continue to develop areas of the credit card market with strong growth potential and further increase points of contact with customers.

Looking at overseas department stores, Takashimaya Singapore celebrated its 30th anniversary in October as the store continues to solidify its presence on the local market. Stores in Ho Chi Minh City, Shanghai and Siam Takashimaya in Bangkok are also each contributing to local economies by proposing enriched lifestyles and offering the fine products and services available through a Japanese department store.

Takashimaya is committed to meeting the needs of its stakeholders, and we ask for your continued support and patronage.

November 2023
Yoshio Murata, President