Japan Airport Terminal Co., Ltd.
Withdrawal of Downtown Duty-Free Store from Ginza Mitsukoshi and Future Direction of Consolidated Subsidiary
Consolidated subsidiary Japan Duty Free Fa-So-La Mitsukoshi Isetan Co., Ltd. will withdraw from Ginza Mitsukoshi in September 2026, and has begun discussions with joint venture partners on future direction including dissolution and liquidation.
Key Figures
- Operating Revenue (Fiscal year ending March 2025): 3,068 million yen
- Operating Income (Fiscal year ending March 2025): 387 million yen (Return to Profit)
- Net Income Attributable to Owners of Parent (Fiscal year ending March 2025): 329 million yen (Return to Profit)
AI要約
Background of Consolidated Subsidiary’s Withdrawal from Downtown Duty-Free Store
Japan Duty Free Fa-So-La Mitsukoshi Isetan Co., Ltd. was established in 2014 and has operated an airport-type downtown duty-free store at Ginza Mitsukoshi since 2016. Although performance deteriorated due to the impact of COVID-19, profitability was restored in the fiscal year ending March 2025. However, the business environment has become severe due to inability to develop fashion, watch, and jewelry brands, a business structure dependent on specific countries/regions, and changes in consumption behavior of inbound tourists. Therefore, the decision was made to withdraw from Ginza Mitsukoshi upon expiration of the lease contract at the end of January 2027.
Future Direction and Schedule
After withdrawal, discussions have started with joint venture partners NAA Retailing Co., Ltd., Isetan Mitsukoshi Holdings Ltd., and Narita International Airport Corporation regarding future direction including dissolution and liquidation. Notifications to relevant parties will be issued from February 2026 onward, the downtown duty-free store at Ginza Mitsukoshi will close in September 2026, and the regular building lease contract will expire in January 2027. The impact on consolidated results for the current fiscal year is expected to be minor.
