Takashimaya's operating profit rose 16.4% to ¥27.5bn in the six months to August 2026, and the department-store group raised its profit guidance for the year to February 2027. Net profit went the other way: ¥16.0bn attributable to shareholders, down 24.5%, because the prior-year period contained a ¥12.6bn fixed-asset sale gain that shrank to ¥405mn this time.
| Measure | Six months | Change on year | Full-year guide (April) |
|---|---|---|---|
| Operating revenue | ¥244.1bn | +3.7% | ¥509.1bn (¥503.0bn) |
| Operating profit | ¥27.5bn | +16.4% | ¥59.0bn (¥57.5bn) |
| Ordinary profit | ¥28.1bn | +27.5% | ¥60.0bn (¥57.0bn) |
| Net profit to shareholders | ¥16.0bn | -24.5% | ¥38.0bn (¥38.0bn) |
Domestic stores carry the gain
Domestic department stores earned ¥12.5bn at the operating level, up 30.2% on operating revenue of ¥149.1bn, up 1.9%. The company credits inbound demand on a weaker yen and steady spending by domestic customers.
The results presentation puts numbers on the mix. Counter sales to inbound visitors were ¥51.9bn, up 18% and above the company's April plan of ¥42.5bn. Domestic customer sales rose 7%, and high-priced goods rose 19%. China's share of inbound sales fell to 47% from 56%.
The mix costs margin. Merchandise margin fell because sales of low-margin luxury brands outran the rest, and the presentation says such goods made up 71% of inbound sales against 66% a year earlier. Gross profit still rose, and the ratio of selling and administrative costs improved despite higher utility costs.
Guidance moves up, net profit stays put
Takashimaya now expects full-year operating profit of ¥59.0bn, up from ¥57.5bn in April, and ordinary profit of ¥60.0bn, up from ¥57.0bn. It kept net profit at ¥38.0bn, against a net loss of ¥8.2bn a year earlier.
The presentation says the net profit forecast absorbs a one-off special loss through gains on selling policy-held shares and property. It also says the domestic store plan builds in procurement-cost risk and assumes inbound sales fall 3% in the second half, after the 18% rise in the first.
What cuts the other way
Interest expense rose to ¥5.4bn from ¥3.8bn. Special losses reached ¥5.0bn, including a ¥2.65bn allowance on a loan to an equity-method affiliate. The interior fit-out segment's operating profit fell 30.6%, which the company attributes to higher construction and labour costs.
Payout and structure
The board set an interim dividend of ¥22 per share, ¥2 above the April forecast, and also forecasts ¥22 at year-end, for ¥44 a year against ¥34 last year.
On 15 October the board also resolved to create an intermediate holding company for its financial business through a simplified new split, effective 1 March 2027 as planned. It would take over shares in four financial subsidiaries.