Kintetsu Department Store Co.Ltd.

Kintetsu Department Store said on the 9th that it has revised up its consolidated net profit forecast for the full fiscal year ending February 2027 to 4 billion yen from the previous 3.9 billion yen, a rise of about 7.9 percent year on year. The upgrade reflects strong domestic and duty-free sales, as well as a decrease from the previous forecast in special losses such as losses on the disposal of fixed assets related to store renovations. The company also revised its full-year year-end dividend forecast to 25 yen per share, an increase of 5 yen. First-half consolidated net profit for the March-to-August period came to 2.2 billion yen, down 38 percent from a year earlier but above the previous forecast of 1.7 billion yen. Although there was a reactionary decline following the Osaka-Kansai Expo, both domestic and duty-free sales were strong, and special losses such as losses on the disposal of fixed assets were smaller than planned. In the second half, from September 2026 to February 2027, increases in costs such as water and utility charges stemming from the situation in the Middle East are expected to come in below the previous forecast.