As for the final accounts of Takashimaya (8233), operating revenue decreased, and operating income increased and achieved the target by reducing SG& A expenses.

As for the final accounts of Takashimaya (8233), operating revenue decreased, and operating income increased and achieved the target by reducing SG& A expenses.

◎ Consolidated Performance
- Operating revenue decreased 0.6% year-on-year to 923.6 billion yen, and operating income increased 3.1％ to 34 billion yen.
- Operating income increased and reached the target as a result of cutting SG&A expenses.
- Ordinary income and net income dropped due to a decline in equity-method profit and last year’s reactionary downturn in gain on sales of investment securities. However, they exceeded the targeted figures.
◎ Performance of the Domestic Department Store Segment
- Operating revenue slipped but reached the target.
- Product profitability was in line with the projection as a result of implementing improvement measures.
- Operating income, ordinary income and net income fell due to lower revenue despite improving efficiency by reducing SG&A expenses and other efforts.

◎ Group’s Growth Strategy
- Achieve industry-leading earning power, efficiency and stability, and aim for 1 trillion yen in operating revenue and 50 billion yen in operating income in FY2021
▽ Growth Strategy in Each Business
- Domestic department stores will boost profits by reforming Sales & costs structure.
- The domestic group will pursue development by positioning financial business as a core business alongside real estate.
- The overseas will expand business in Asia using Singapore Takashimaya as a hub.
▽ “Machi-dukuri”
- Rally know-how of Group’s businesses, including the department store business, real estate business, finance business, contract & design business, advertising business, food business, and contract staffing business, and pursue customer satisfaction
- Build unique next-generation commercial facilities that integrate department stores with specialty stores

◎ Projections for the fiscal year ending February 2018
- Operating revenue will be 943 billion yen, 1.1% up year-on-year, and operating income will be 35 billion yen, 2.9% up year-on-year.
- Operating revenue is projected to significantly increase owing to new businesses including Vietnam and duty-free shop, and condominium apartment sales.
- Operating income, ordinary income and net income are expected to grow thanks to higher revenue on a full year basis.
- Takashimaya Vietnam will improve its revenue contribution on a full year basis.
- The domestic department stores' revenue is projected to decline assuming harsh consumption conditions in Japan, and profits are expected to increase by curtailing SG&A expenses.