J. Front Retailing (3068) Q4 2025 earnings summary

Executive summary

• Achieved record-high profit in FY2024, with business profit reaching ¥53.4 billion, surpassing medium-term targets ahead of schedule.

• Growth driven by strong Department Store and SC Businesses, strategic renovations, and increased inbound tourism.

• Launched new Medium-term Business Plan (FY2024–FY2026) focused on transformation and sustainability management.

• Upward revision of medium-term business profit target to ¥56.0 billion and ROIC target to 6.0% or more.

• Shareholder returns enhanced through increased dividends and share buybacks.

Financial highlights

• FY2024 gross sales rose 10.1% year-over-year to ¥1,268.3 billion; revenue up 8.6% to ¥441.8 billion.

• Operating profit increased 35.2% to ¥58.1 billion; profit attributable to owners of parent up 38.5% to ¥41.4 billion.

• ROE reached 10.5%, and ROIC 6.2% for FY2024.

• Year-end dividend increased by ¥8, annual dividend up ¥16 year-over-year to ¥52 per share.

• Net cash provided by operating activities was ¥85.8 billion, down ¥4.8 billion year-over-year due to increased working capital.

Outlook and guidance

• FY2025 business profit forecasted to rise 1.0% to ¥54.0 billion, but operating profit and net income expected to decrease due to absence of prior year’s one-time gain.

• Gross sales projected to grow 3.8% to ¥1,316.0 billion; revenue to increase 3.9% to ¥459.5 billion.

• Dividend per share planned to increase by ¥2 to ¥54.

• Announced acquisition of up to 11.5 million shares (¥15.0 billion) between April and August 2025.

• Free cash flow expected to remain positive at ¥20.0 billion despite aggressive investment.