Company Profile

Provide value to stakeholders and promote Group expansion through group-wide Machi-dukuri Strategy

In the previous fiscal year, socio-economic conditions normalized further, and fashion-related products performed well. Inbound sales also rose sharply, particularly for luxury brands, supported by a weaker yen. At the same time, profits increased significantly thanks to the promotion of a cost optimization program and efforts to control SG&A expenses, with all consolidated profit categories reaching record highs.

Looking to the future, as Takashimaya approaches its 200th anniversary in 2031, all Group companies have discussed the Grand Design—the ideal position for the Takashimaya Group—to achieve sustainable growth in the future. We have defined this position as “a familiar platform that helps achieve fulfilling lifestyles” for all our stakeholders, including shareholders, customers, employees, business partners, and local communities.

The current fiscal year has kicked off our new Medium-Term Management Plan (FY2024–2026), which marks the first three-year period in the medium to long-term process aimed at realizing our Grand Design. As such, Takashimaya is moving into a new stage, transitioning from a phase of recovery from the COVID-19 pandemic to a phase of implementing specific strategies to support sustainable growth.

In ESG management, which underpins our corporate operations, Takashimaya will implement and strengthen TSUNAGU ACTION—sales activities that propose sustainable lifestyles—across the company. This is our unique initiative aimed at balancing the resolution of social issues with business growth through the provision of products and services in our mainstay department store business. In addition to expanding the use of renewable energy to achieve decarbonization, we will pursue management with a focus on diversity, equity, and inclusion, including protecting human rights and promoting an understanding of LGBTQ+ issues.

In human capital management, Takashimaya will promote further investments in human capital, the source of our added value creation, with a view to realizing our ideal position for 2031. We will strive to ensure job satisfaction through initiatives such as providing better work conditions and environments and supporting autonomous growth, while aiming to increase per-capita productivity. Furthermore, with regard to our policy for operations at Group commercial facilities during the New Year period, we have decided to make January 2nd a business holiday in addition to New Year’s Day. We expect this new policy, coupled with the existing semi-annual business holiday, to contribute to improved work environments and motivation, including for the sales personnel of our business partners.

To pursue business growth, the Takashimaya Group will maximally utilize our distinctive store locations, broad customer base, and excellent Group companies, which can be regarded as Group’s three advantages, to promote our Machi-dukuri Strategy. Through Machi-dukuri, we will provide unique added value to our stakeholders, aiming for sustainable growth. In Japan, we will use last year’s successful launch of the Kyoto Takashimaya Shopping Center as a model to continue our transition to “next-generation shopping centers.” We will introduce various attractions to draw customers to commercial facilities that combine department stores and specialty shops, while fulfilling our social responsibility as disaster response bases mainly through collaboration with local governments. Overseas, the Group will work as whole to develop business in Vietnam, where significant growth is expected in the future, leveraging our operations in Singapore as a hub for this effort.

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

May 2024
Yoshio Murata, President