Today I will talk about Isetan Mitsukoshi Holdings, which represents department stores in Japan. It was established in 2008 after business consolidation.
3099 Isetan Mitsukoshi
Holdings
Until around the 1990's, shopping in department stores itself was a kind of status
for such affluent brand thinkers in Japan.
However, in addition to prolonged deflation, along with the appearance of e-commerce, department stores have changed dramatically.
They are trying various new ideas, such as new concept stores that respond to changing lifestyles, but young people are not interested in name-brand products and consumption has also cooled down.
The department store industry has been plagued by business performance for several years, so that it seems consumers who are visiting Japan are the last resort.
￥1,108（Feb.25th the last closing price) The latest stock price← click here Trading unit: 100
The final month of the settlement: March Dividend yield 1.08% PER 33.22 PBR 0.75
Equity ratio 44.9% (the standard figure of retail industry is 45-60%）
Although it is absolutely out of question in terms of dividend yield, the attraction
here is nothing but shareholder benefit.
You can receive a preferential card with a 10% discount which can be used when shopping at group stores such as Mitsukoshi, Isetan, It can also be used in restaurants and grocery stores.
Transition of business results
|
|
Net sales |
Operating profit |
Net profit |
Net profit per share |
dividend |
Dividend payout ratio |
|
2016.3 |
1,287,253 |
33,107 |
26,506 |
67.4 |
12 |
18% |
|
2017.3 |
1,253,457 |
23,935 |
14,976 |
38.3 |
12 |
31% |
|
2018.3 |
1,268,865 |
23,413 |
▲960 |
▲2.5 |
12 |
- |
|
2019.3 |
1,200,000 |
29,000 |
13,000 |
33.3 |
12 |
36% |
※Unit of sales, operating profit, net income is one-million yen
※The figure for March, 2019 is the predicted value
|
Cash flow statement |
2018.3 |
2017.3 |
|
CF operating activities |
729 |
353 |
|
CF investing activities |
▲269 |
▲409 |
|
CF financing activities |
▲527 |
29 |
※One unit is one hundred million yen
Note: You should be responsible for your own investment. Please make your own final judgment.