Earnings quality
Compare earnings and operating cash flow for earnings quality.
J. Front Retailing Co., Ltd.
Ticker 3086 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-05-26 · Period end 2026-02-28
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 36.4%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio36.4%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
Ｊ．フロント リテイリング株式会社 is a Japanese listed company. Its reportable segments include Department Store Business, Total Of, Operating Segments Not Included In, SCBusiness.
- Department Store Business
- Total Of
- Operating Segments Not Included In
- SCBusiness
- Developer Business
- Payment And Finance Business
- Disclosure Of Changes In
Segments Department Store Business · Total Of · Operating Segments Not Included In · SCBusiness · Developer Business · Payment And Finance Business
Compare trends
No phone/email found in this filing · Filing date 2026-05-26
Financial statements
Income statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | ¥212.6B | ¥215.4B |
| Operating profit (loss) | ¥58.2B | ¥49.0B |
| Finance income | ¥781.0M | ¥797.0M |
| Finance costs | ¥4.3B | ¥6.3B |
| Income tax expense | ¥14.3B | ¥16.4B |
| Profit (loss) | ¥41.5B | ¥28.1B |
| Profit (loss) attributable to owners | ¥41.4B | ¥28.3B |
| Basic EPS (¥) | 160.35 | 112.93 |
Balance sheet
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥55.0B | ¥36.1B |
| Current assets | ¥241.0B | ¥227.5B |
| Non-current assets | ¥923.1B | ¥914.0B |
| Total assets | ¥1.2T | ¥1.1T |
| Short-term borrowings | — | — |
| Current liabilities | ¥341.3B | ¥324.5B |
| Non-current liabilities* | ¥399.6B | ¥389.0B |
| Total liabilities | ¥740.9B | ¥713.5B |
| Equity attributable to owners | ¥409.6B | ¥415.6B |
| Total equity | ¥423.2B | ¥428.0B |
Cash flow statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥85.8B | ¥67.0B |
| Cash flows from investing activities | -¥28.3B | -¥15.2B |
| Cash flows from financing activities | -¥74.0B | -¥70.8B |
| Net increase (decrease) in cash | — | — |
| Cash at end of period | ¥55.0B | ¥36.1B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥331.5B | ¥359.7B | ¥407.0B | ¥441.9B | ¥445.1B | |
| Operating profit | — | — | — | ¥58.2B | ¥49.0B | |
| Profit to owners | ¥4.3B | ¥14.2B | ¥29.9B | ¥41.4B | ¥28.3B | |
| Total assets | ¥1.2T | ¥1.1T | ¥1.1T | ¥1.2T | ¥1.1T | |
| Cash & equivalents | ¥93.3B | ¥39.9B | ¥71.3B | ¥55.0B | ¥36.1B | |
| Owners’ equity | ¥350.4B | ¥359.4B | ¥381.9B | ¥409.6B | ¥415.6B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from — to — (—), so the top line did not break. Gross profit only slipped from ¥212.6B to ¥215.4B, while operating profit swung from ¥58.2B to ¥49.0B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥67.0B (prior ¥85.8B), and cash on the balance sheet rose to ¥36.1B from ¥55.0B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥713.5B while owners’ equity fell to ¥415.6B. ROE moved from 10.5% to 6.9%, and the equity ratio from 35.2% to 36.4%. Employee count is 5,584 vs 5,343 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100Y6K0
(Ｊ．フロント リテイリング株式会社), period end 2026-02-28.