Matsuya Co., LTD.
8237・Prime Market・Retail Trade
Department Store Business
The core segment of the Matsuya Group, centered on urban department stores in Ginza and Asakusa.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales (Q1 FY2027, ending March 2027) | ¥10,151 million | ¥9,348 million (Q1 FY2026, ending March 2026) | ↑ |
| Segment operating profit (Q1 FY2027, ending March 2027) | ¥608 million | ¥332 million (Q1 FY2026, ending March 2026) | ↑ |
| Segment sales (full year FY2026, ending March 2026) | ¥37,741 million | — | — |
| Segment operating profit (full year FY2026, ending March 2026) | ¥2,128 million | — | — |
| Segment assets (full year FY2026, ending March 2026) | ¥64,268 million | — | — |
| Depreciation (Q1 FY2027, ending March 2027) | ¥318 million (consolidated total) | ¥345 million (Q1 FY2026, ending March 2026, consolidated total) | ↓ |
Business Details
The core business operated by Matsuya Co., Ltd. (Ginza Store and Asakusa Store) and consolidated subsidiary MATSUYA GINZA.com Co., Ltd. This encompasses department store operations, mail order business, e-commerce business, import/export business, wholesale business, and more. Revenue is driven by a high-sensitivity product lineup centered on luxury brands, cosmetics, and jewelry/watches for affluent customers, as well as expansion and deepening of the customer base through CRM enhancement by the Personal Outside Sales Department. This core segment accounts for approximately 84% of the Group's consolidated net sales.
Recent Overview
Q1 sales rose 8.5% and operating profit rose 82.9%, a significant increase driven by affluent customer demand and inbound tourism.
In the first quarter of FY2027 (ending March 2027) (March to May 2026), Department Store Business segment sales were ¥10,151 million (up ¥799 million, or +8.5%, year on year), and operating profit was ¥608 million (up ¥275 million, or +82.9%, year on year), achieving significant growth in both sales and profit. This was driven by robust consumption trends among royal customers, as well as strong purchasing demand from inbound tourists from a wide range of countries amid a weak yen. In addition, participation in Tokyo Creative Salon 2026 and unique events such as GINZA Food Festival contributed to customer traffic. On a gross sales basis before application of revenue recognition standards, consolidated total sales were ¥31,387 million (up +5.4% year on year).
Key Products
Growth Drivers
- Robust domestic consumption trends centered on affluent customers and enhanced luxury brand development (expansion of the Louis Vuitton Matsuya Ginza store to one of the largest scales in Japan)
- Expansion and deepening of the customer base through organizational strengthening, increased staffing, and advanced CRM at the Personal Outside Sales Department
- Capturing inbound demand from a wide range of countries, including partnerships with financial institutions aimed at attracting affluent customers from Southeast Asia
- Expansion of ID-registered customers through the integration of physical and digital channels (omnichannel strategy) leveraging matsuyaginza.com
- Enhancement of the social value of the Ginza brand through regional co-creation initiatives spanning 20 prefectures and 46 projects
Risks
- Risk of decline and structural change in duty-free sales due to factors such as the Chinese government's travel advisories
- Risk of impairment losses due to unmet business plans at MATSUYA GINZA.com Co., Ltd. (¥1,011 million recorded in the past) and delays in progress on the omnichannel strategy
- Risk of fluctuations in inbound consumption due to exchange rate volatility and geopolitical risks
- Risk of profit pressure from increased SG&A expenses such as personnel costs and advertising expenses
- Uncertainty over full-year recovery in the Department Store Business, given the forecast for a significant profit decline in the full-year FY2027 (ending March 2027) consolidated results, with operating profit projected at ¥1,800 million (down 31.7% year on year)
Last updated: June 1, 2026