Takashimaya Company (8233) Q1 2025 earnings summary

Executive summary

• Achieved record highs for operating and ordinary profit for two consecutive years, with all profit categories outperforming April forecasts on a consolidated basis.

• Operating revenue for the three months ended May 31, 2024 rose 13.8% year-over-year to ¥120,125 million, with operating profit up 56.7% to ¥17,295 million and profit attributable to owners of parent up 50.1% to ¥12,821 million.

• Growth was driven by strong domestic and inbound sales in department stores, robust overseas operations, and improved performance in commercial property and construction segments.

• The company revised its full-year forecast upward, reflecting stronger-than-expected inbound sales and overall business momentum.

Financial highlights

• Q1 total operating revenue: ¥255.8B (+17.6% YoY); operating revenue: ¥120.1B (+13.8% YoY).

• Operating profit: ¥17.3B (+¥6.3B YoY, +56.7% YoY); ordinary profit: ¥17.8B (+¥6.2B YoY, +53.5% YoY); profit attributable to owners: ¥12.8B (+¥4.3B YoY, +50.1% YoY).

• EPS for the quarter: ¥81.28 (diluted ¥69.10), up from ¥54.14 (diluted ¥46.06) a year earlier.

• Comprehensive income: ¥17,007 million (+62.4% YoY).

• Gross profit increased to ¥46,102 million from ¥40,836 million YoY.

Outlook and guidance

• Full-year operating profit forecast revised upward to ¥55.0B (+¥5.0B from April), targeting record highs in all profit categories.

• Full-year total operating revenue forecast: ¥1,045.3B (+9.8% YoY); profit attributable to owners: ¥38.0B (+¥6.4B YoY); EPS ¥164.83 (reflecting stock split).

• Upward revision driven by strong inbound traveler sales and favorable currency effects.

• Six-month forecast: operating revenue ¥254,900 million (+15.2% YoY), operating profit ¥27,700 million (+33.1% YoY), profit attributable to owners of parent ¥17,800 million (+19.0% YoY).

• Dividend forecast: annual dividend of ¥40 per share (pre-stock split basis); 2-for-1 stock split effective September 1, 2024.