Stores drive the gain
Takashimaya Company, Limited (TSE: 8233) reported consolidated results for the first half of FY2/2027, March 1 to August 31, 2026, on October 15, 2026 under Japanese GAAP. Operating revenue rose 3.7% to ¥244,131 million and gross operating revenue, measured on the pre-revenue-recognition basis, 6.2% to ¥517,465 million. Operating profit rose 16.4% to ¥27,521 million, business profit, which adds equity-method income and dividends received, 21.2% to ¥30,474 million, and ordinary profit 27.5% to ¥28,066 million. Net profit attributable to owners of the parent fell 24.5% to ¥16,014 million, or ¥54.65 per share, because the year-earlier half included a gain on the sale of fixed assets.
Domestic stores lead, overseas helped by the yen
Domestic department stores grew operating revenue 1.9% to ¥149,134 million and operating profit 30.2% to ¥12,458 million. Sales beat last year on inbound demand and steady spending by domestic customers, who account for most of the total; the merchandise margin slipped because lower-margin luxury brands grew fastest, but higher gross profit and cost cuts outweighed that. Overseas department stores grew revenue 15.8% to ¥18,636 million and profit 21.4% to ¥4,601 million: Singapore Takashimaya fell in local currency but rose in yen terms, Shanghai returned to profit, Ho Chi Minh City grew and Siam Takashimaya in Bangkok narrowed its loss. Domestic commercial development, run by Toshin Development, grew revenue 3.0% to ¥21,240 million with profit flat at ¥3,455 million during the renovation of Tamagawa Takashimaya S.C., and overseas commercial development grew profit 19.2% to ¥3,197 million.
Guidance, dividend and a finance holding company
Total assets rose 1.0% to ¥1,359,233 million and the equity ratio edged up to 34.0%. Citing domestic store sales and costs and the first-half results of its finance and overseas commercial development businesses, the company raised its FY2/2027 forecast: operating revenue to ¥509,100 million (+3.4%), operating profit to ¥59,000 million (+10.2%) from ¥57,500 million, business profit to ¥66,000 million and ordinary profit to ¥60,000 million from ¥57,000 million. Net profit is still expected at ¥38,000 million, against a ¥8,194 million loss last year. It raised the interim dividend by ¥2 to ¥22 and the year-end forecast by ¥2 to ¥22, taking the annual forecast to ¥44 from ¥40, against ¥34 last year. On October 15 the board also approved creating Takashimaya Financial Holdings, an intermediate holding company for the group's finance businesses, through a company split planned for March 1, 2027.
| Metric | H1 FY2/2027 | H1 FY2/2026 | Change |
|---|---|---|---|
| Gross operating revenue (¥ million) | 517,465 | 487,186 | +6.2% |
| Operating revenue (¥ million) | 244,131 | 235,362 | +3.7% |
| Operating profit (¥ million) | 27,521 | 23,653 | +16.4% |
| Business profit (¥ million) | 30,474 | 25,153 | +21.2% |
| Ordinary profit (¥ million) | 28,066 | 22,010 | +27.5% |
| Net profit attrib. to owners of parent (¥ million) | 16,014 | 21,219 | −24.5% |
| EPS (¥) | 54.65 | 70.14 | −22.1% |
| Domestic department stores — revenue (¥ million) | 149,134 | 146,401 | +1.9% |
| Domestic department stores — segment profit (¥ million) | 12,458 | 9,571 | +30.2% |
| Overseas department stores — revenue (¥ million) | 18,636 | 16,093 | +15.8% |
| Overseas department stores — segment profit (¥ million) | 4,601 | 3,790 | +21.4% |
| Domestic commercial development — revenue (¥ million) | 21,240 | 20,616 | +3.0% |
| Domestic commercial development — segment profit (¥ million) | 3,455 | 3,419 | +1.0% |
| Overseas commercial development — revenue (¥ million) | 8,684 | 7,544 | +15.1% |
| Overseas commercial development — segment profit (¥ million) | 3,197 | 2,683 | +19.2% |
| Total assets (¥ million) | 1,359,233 | 1,346,229 | +1.0% |
| Net assets (¥ million) | 490,444 | 477,749 | +2.7% |
| Equity ratio | 34.0% | 33.4% | +0.6 pt |
| FY2/2027 guidance — operating revenue (¥ million) | 509,100 | — | +3.4% |
| FY2/2027 guidance — operating profit (¥ million) | 59,000 | — | +10.2% |
| FY2/2027 guidance — business profit (¥ million) | 66,000 | — | +10.7% |
| FY2/2027 guidance — ordinary profit (¥ million) | 60,000 | — | +5.5% |
| FY2/2027 guidance — net profit (¥ million) | 38,000 | — | loss to profit |
| Annual dividend per share (¥) | 44.00 | 34.00 | +29.4% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.