Department store chain Isetan Co. said Monday its group net profit in fiscal 2005 jumped 48.3 percent from the previous year to 18.71 billion yen due to good sales at the parent company’s stores and its overseas arms, as well as the consolidation of Kyushu-based Iwataya Department Co. into its results.
In an earnings report for the 12-month period to March 31, Isetan said its pretax profit rose 41.2 percent to 30.93 billion yen on a 20.8 percent surge in sales to 760.04 billion yen.
Isetan attributed the jump to the same buoyant store sales and Iwataya consolidation factors.
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