Earnings quality
Compare earnings and operating cash flow for earnings quality.
Takashimaya Co., Ltd.
Ticker 8233 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-05-20 · Period end 2026-02-28
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
operating margin is 13.3%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin13.3%
Equity ratio—
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
株式会社髙島屋 is a Japanese listed company. Its reportable segments include Department Stores In Japan, Finance, Contract And Design, Overseas Department Stores.
- Department Stores In Japan
- Finance
- Contract And Design
- Overseas Department Stores
- Commercial Property Development In Japan
- Overseas Commercial Property Development
- Total Of
- Operating Segments Not Included In
Segments Department Stores In Japan · Finance · Contract And Design · Overseas Department Stores · Commercial Property Development In Japan · Overseas Commercial Property Development
Compare trends
No phone/email found in this filing · Filing date 2026-05-20
Financial statements
Income statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Revenue | ¥412.8B | ¥402.0B |
| Cost of sales* | ¥199.1B | ¥192.8B |
| Gross profit | ¥213.7B | ¥209.2B |
| Operating profit (loss) | ¥57.5B | ¥53.5B |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥16.6B | -¥4.0B |
| Profit (loss) | ¥40.7B | -¥7.0B |
| Profit (loss) attributable to owners | ¥39.5B | -¥8.2B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥88.6B | ¥77.4B |
| Current assets | ¥333.5B | ¥364.4B |
| Non-current assets | ¥962.5B | ¥981.9B |
| Total assets | ¥1.3T | ¥1.3T |
| Short-term borrowings | ¥37.7B | ¥140.7B |
| Current liabilities | ¥415.5B | ¥542.8B |
| Non-current liabilities* | ¥380.1B | ¥325.7B |
| Total liabilities | ¥795.7B | ¥868.5B |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Feb 28, 2025) | FY2026 (ended Feb 28, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥72.5B | ¥53.8B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥41.8B | -¥31.8B |
| Net increase (decrease) in cash | -¥5.0B | -¥11.1B |
| Cash at end of period | ¥88.6B | ¥77.4B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥695.7B | ¥368.9B | ¥385.8B | ¥412.8B | ¥402.0B | |
| Operating profit | ¥6.9B | ¥34.5B | ¥49.2B | ¥60.4B | ¥56.9B | |
| Profit to owners | — | — | — | ¥39.5B | -¥8.2B | |
| Total assets | ¥1.1T | ¥1.2T | ¥1.3T | ¥1.3T | ¥1.3T | |
| Cash & equivalents | — | — | ¥92.9B | ¥88.6B | ¥77.4B | |
| Owners’ equity | ¥420.5B | ¥436.5B | ¥478.8B | ¥500.3B | ¥477.7B |
How we read these numbers
From the notes
| Item | Amount | Note |
|---|---|---|
| Affiliates stock valuation loss | -¥1.0B | Parent-company special loss (特別損失) |
| Parent special losses (total) | -¥7.3B | Sum of 特別損失 on the parent-company statement |
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from ¥412.8B to ¥402.0B (▼ -2.6%), so the top line did not break. Gross profit only slipped from ¥213.7B to ¥209.2B, while operating profit swung from ¥57.5B to ¥53.5B — the damage is concentrated below gross profit.
The notes flag material one-offs this year, including Affiliates stock valuation loss ¥1.0B, Parent special losses (total) ¥7.3B. Treat these as discrete charges when reading the earnings move.
The parent-company income statement also shows material special losses (valuation, spin-off, and affiliate support items).
Operating cash flow was ¥53.8B (prior ¥72.5B), with cash on the balance sheet at ¥77.4B versus ¥88.6B.
Goodwill on the balance sheet fell from ¥2.7B to ¥2.7B, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥868.5B while owners’ equity fell to —. ROE moved from 8.5% to -1.8%, and the equity ratio from 36.5% to 33.4%. Employee count is 6,518 vs 6,574 a year earlier.
Liquidity & leverage
Short-term borrowings jumped from ¥37.7B to ¥140.7B; watch refinancing and working-capital pressure even with a larger cash balance.
Capital buffer
Owners’ equity ratio fell from 36.5% to 33.4%; the balance sheet absorbed a heavy loss year.
Was this page helpful?
Source: EDINET S100Y4X5
(株式会社髙島屋), period end 2026-02-28.