J. Front Retailing's Q3 business profit rises, but nine-month figures mixed

J. Front Retailing reported consolidated sales revenue of JPY328,127 million for the first nine months ended November 30, 2025, a 3.8% increase year-on-year, driven by strong domestic customer sales in department stores and a robust shopping center business. However, business profit decreased by 7.4% to JPY41,511 million, partly due to a decline in duty-free sales and the absence of a one-time gain from a step acquisition in the prior fiscal year. Operating profit also fell by 20.4% to JPY40,692 million.

For the third quarter (September-November 2025), sales revenue was JPY108,202 million, up 1.5%, with business profit increasing by 7.9% to JPY13,330 million. This quarter saw growth in department store and SC businesses offsetting declines in the Developer and Payment and Finance segments. The company is actively pursuing large-scale renovations, including for the Matsuzakaya Nagoya store's South Wing and Shibuya PARCO, which completed its renovation in September, boosting its transaction volume.

Total assets decreased by JPY15,179 million to JPY1,148,968 million, and equity attributable to owners of parent declined by JPY4,731 million to JPY404,915 million as of November 30, 2025. Cash flow from operating activities was JPY51,042 million, a decrease of JPY19,970 million, partly due to higher tax payments. The company maintains its full-year earnings forecast.