Takashimaya sells asset, initiates share buyback amidst revised forecast

Takashimaya announced the sale of its Rivage Shinagawa property, a non-current asset, for an undisclosed amount, anticipating a gain of JPY 12.5 billion in extraordinary income during the second quarter of FY2025. This move is aimed at optimizing management resources and is expected to be included in the full-year earnings forecast. Simultaneously, the company will use the proceeds from the sale to launch a flexible share buyback program, acquiring up to 15 million of its own shares at a maximum cost of JPY 15.0 billion, representing 4.9% of outstanding shares (excluding treasury shares). The purchased shares will then be cancelled, promoting capital efficiency.