Isetan Mitsukoshi HD The largest deficit in the interim settlement of accounts Final deficit 36.7 billion yen November 11, 17:51
Isetan Mitsukoshi Holdings Co., Ltd., a major department store, posted a deficit of 36.7 billion yen in final profit and loss until September, the largest deficit ever for this period.
The refraining from going out and the significant decrease in foreign tourists due to the spread of the new coronavirus infection.
Isetan Mitsukoshi Holdings announced on the 11th that the interim results for the entire group from April to September were 335.7 billion yen, 41.8% less than the same period last year, and the final profit and loss was the same period last year. It turned from a surplus of 7.5 billion yen to a deficit of 36.7 billion yen.
The final deficit is the largest since the group was established in 2008, mainly due to refraining from going out due to the spread of the new coronavirus infection, store closures, and a significant decrease in foreign tourists. ..
On the other hand, in the outlook for business results for the year ending March next year announced on the 11th, the final deficit is expected to be 45 billion yen, which is 15 billion yen less than the previous forecast, and has been revised upward.
This is because we expect a profit of 7.1 billion yen when selling the shares of a subsidiary real estate company, and we also reflected the reduction in expenses such as advertising and sales.
Isetan Mitsukoshi intends to hurry to rebuild its management by promoting the selection and concentration of businesses and focusing on the online shopping business.