Department store operator Takashimaya Co. said Thursday it chalked up a consolidated net profit of 8.32 billion yen in the business year that ended Feb. 28, up 29.4 percent from the previous year.
Profits per share rose to 27.65 yen from 21.16 yen.
Despite sluggish personal consumption, Takashimaya posted the profit gain largely due to the strong performance of its group companies, including a supplier of automobile interior products, a company spokesman said.
Pretax profit rose 18.3 percent to 18.61 billion yen on operating revenues of 1.192 trillion yen, down 0.1 percent.
On an unconsolidated basis, however, weak consumption forced Takashimaya to incur a 14.7 percent fall in net profit to 4.24 billion yen and a 30.8 percent drop in pretax profit to 8.16 billion yen. Operating revenues dropped 2 percent to 1 trillion yen.
Takashimaya will pay an annual dividend of 7.5 yen per share, unchanged from the previous year and including an interim dividend of 3.75 yen. For the current business year, Takashimaya forecasts a consolidated net loss of 52 billion yen on a parent net loss of 53.2 billion yen.
Consolidated pretax profit is projected at 19 billion yen on group operating revenues of 1.195 trillion yen.