Takashimaya Company (8233) AI Stock Analysis

• Market Cap: ¥582.19B
• Dividend Yield: 1.84%
• Average Volume (3M): 1.95M
• Price to Earnings (P/E): 13.9
• Beta (1Y): 1.05
• Revenue Growth: 0.42%
• EPS Growth: 20.25%
• Country: JP
• Employees: 6,733
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Department Stores
• EPS (TTM): N/A
• Shares Outstanding: 305,208,920
• 10 Day Avg. Volume: 2,037,170
• 30 Day Avg. Volume: 1,950,910
• PEG Ratio: 0.37
• Price to Book (P/B): 0.81
• Price to Sales (P/S): 0.77
• P/FCF Ratio: 8.82
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 127.45
• Revenue Forecast (FY): ¥498.82B

• Rating: 71 Outperform
• Price Target: ¥2,612.00 ▲(59.85% Upside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is driven primarily by improved financial performance (stronger margins and recovery in earnings with manageable leverage), partially offset by weaker cash-flow conversion. Technically, the trend is strong, but overbought signals raise near-term pullback risk. Valuation is reasonable on earnings but supported by only a modest dividend yield.

Positive Factors

Improved profitability and margins

Sustained improvement in gross, EBIT and net margins indicates stronger pricing, cost control and mix benefits across core retail operations. Durable margin expansion underpins recurring earnings, funds reinvestment in stores/e‑commerce, and strengthens resilience through retail cycles.

Positive and growing free cash flow

Material free cash flow generation and recent strong FCF growth provide durable internal funding for capital expenditure, targeted investments and debt repayment. Consistent cash generation improves financial flexibility and supports strategic initiatives over the medium term.

Manageable leverage with equity growth

A moderate debt-to-equity ratio alongside steady equity growth signals a reasonably healthy balance sheet. Manageable leverage and improving returns on equity enhance capacity to absorb shocks and finance selective expansion without immediate refinancing strain.

Negative Factors

Weak cash conversion

Low FCF-to-income indicates earnings are not fully converting to cash, likely from working-capital swings or higher investments. This reduces financial flexibility, heightens sensitivity to demand shocks, and can limit sustainable capital returns or debt reduction in weaker periods.

Cyclicality and historical volatility

A history of dramatic downturns demonstrates the business's exposure to consumer demand cycles and event-driven shocks. Such volatility makes long-term revenue predictability and planning harder, increasing the risk that short-term macro shifts materially hit profitability.

Meaningful absolute debt load

Even with moderate leverage ratios, a sizable absolute debt burden can constrain cash available for growth or dividends and increase refinancing risk if revenues weaken. This limits strategic optionality during prolonged soft retail demand.

Takashimaya Company Business Overview & Revenue Model

Company Description

Takashimaya Company, Limited engages in the operation of department stores. Its department stores offer an array of products, including select brand items, clothing, personal items, household goods, groceries, and miscellaneous goods. The company is involved in the development and operation of shopping centers, restaurants, and cafes; provision design and interior decoration services for retail or cultural facilities; and credit card, shopping card, advertising agency, and e-commerce fashion businesses. In addition, it provides personnel services and solutions, including dispatching personnel, outsourcing, and training; wholesale and retail of liquor; event planning services; and building maintenance services. Takashimaya Company, Limited was founded in 1831 and is headquartered in Osaka, Japan.

How the Company Makes Money

Takashimaya generates revenue primarily through its department store operations, which include the sale of a broad array of consumer goods across various categories. The company makes money through direct sales of products, with a significant focus on fashion, cosmetics, and food items. Additionally, Takashimaya earns revenue from its e-commerce platform, which allows customers to purchase goods online, thereby expanding its market reach. Another key revenue stream comes from leasing retail space within its stores to various brand partners and vendors. Strategic partnerships with luxury brands and exclusive product offerings further enhance its sales potential. The company also benefits from its loyalty programs and promotional events that drive customer engagement and repeat business, contributing to its overall profitability.

Takashimaya Company Financial Statement Overview

Summary

Income statement strength (score 78) reflects a clear profitability rebound with solid margins and improving revenue, while the balance sheet is reasonably healthy with manageable leverage (score 70). The main drag is weaker cash conversion despite positive and growing free cash flow (cash flow score 62), which adds risk if conditions soften.

Income Statement

Profitability has improved meaningfully versus earlier years, with TTM (Trailing-Twelve-Months) net margin at ~9.7% and EBIT margin at ~12.1% on solid gross margins (~56.9%). Revenue is growing, with TTM showing a strong pickup (+~5.0) and annual revenue rising from 2023 to 2025. The main weakness is volatility in the longer trend: results were materially weaker/loss-making in 2021 and saw a sharp revenue drop in 2022, highlighting cyclicality and sensitivity to demand conditions.

Balance Sheet

Leverage looks manageable with debt-to-equity around ~0.71 in TTM (Trailing-Twelve-Months), and equity has steadily grown over the past several years, supporting balance-sheet resilience. Returns have improved (TTM return on equity ~8.8% vs ~6–8% in recent annual periods), reflecting healthier profitability. The key watch-out is still a meaningful absolute debt load, which can limit flexibility if operating conditions soften.

Cash Flow

Cash generation is positive, with TTM (Trailing-Twelve-Months) operating cash flow of ~¥64.5B and free cash flow of ~¥24.8B, and TTM free cash flow growth is strong (+~56.3). However, cash conversion is a weaker point: free cash flow is only ~38% of net income in TTM (and down from ~60% in FY2025), suggesting working-capital swings and/or higher investment needs can pressure cash flow despite improving earnings.

Breakdown	TTM	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021
Income Statement
Total Revenue	447.23B	498.49B	466.13B	443.44B	761.12B	680.90B
Gross Profit	254.54B	299.39B	278.56B	261.18B	233.14B	209.28B
EBITDA	87.42B	98.35B	80.77B	73.66B	39.99B	1.10B
Net Income	43.17B	39.52B	31.62B	27.84B	5.36B	-33.97B
Balance Sheet
Total Assets	1.34T	1.30T	1.27T	1.18T	1.14T	1.15T
Cash, Cash Equivalents and Short-Term Investments	81.67B	90.54B	94.75B	90.84B	90.67B	106.68B
Total Debt	339.30B	341.47B	345.81B	303.81B	302.23B	293.54B
Total Liabilities	832.48B	795.67B	791.68B	741.72B	723.85B	735.40B
Stockholders Equity	477.35B	473.05B	454.07B	413.32B	398.57B	394.31B
Cash Flow
Free Cash Flow	24.77B	43.68B	31.68B	10.48B	-11.89B	20.30B
Operating Cash Flow	64.54B	72.49B	59.54B	36.50B	21.04B	43.72B
Investing Cash Flow	-35.14B	-39.69B	-38.50B	-10.71B	-37.12B	-27.03B
Financing Cash Flow	-35.74B	-41.77B	-20.60B	-32.43B	-4.76B	2.30B

Takashimaya Company Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1634.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8233, the sentiment is Neutral. The current price of 1634 is below the 20-day moving average (MA) of 2221.36, below the 50-day MA of 1958.35, and above the 200-day MA of 1520.43, indicating a neutral trend. The MACD of 36.61 indicates Positive momentum. The RSI at 36.59 is Neutral, neither overbought nor oversold. The STOCH value of 3.85 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:8233.

Takashimaya Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3099	73 Outperform	¥1.08T	19.09	9.37%	2.59%	-1.22%	-10.82%
8233	71 Outperform	¥582.19B	13.86	8.54%	1.84%	0.42%	20.25%
3086	66 Neutral	¥675.61B	22.36	7.58%	2.58%	6.52%	-31.67%
8242	66 Neutral	¥299.04B	10.75	4.97%	2.01%	2.00%	-68.35%
9005	65 Neutral	¥1.20T	13.40	9.25%	1.48%	-2.86%	14.93%
7453	64 Neutral	¥1.96T	32.93	16.01%	0.72%	18.58%	7.54%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Takashimaya Company Corporate Events

Takashimaya Posts Broad-Based January Sales Growth as Core Stores and E-Commerce Advance

Takashimaya reported a solid increase in January 2026 sales across its department store network, with total sales at 14 stores up 6.7% year on year and customer traffic rising 1.3%, while its 12 core stores saw sales climb 7.0%. Growth was driven by strong performances at major urban stores such as Nihombashi, Osaka and Yokohama, as well as a 15.7% gain in e-commerce, partially offset by sharp declines at the Sakai store, which closed on January 7, and weaker results in its corporate and cross-media businesses.

By product category, clothing, personal items, household goods and food all recorded year-on-year sales gains, underscoring broad-based consumer demand in the group’s physical stores. The closure of the Sakai store and soft corporate and cross-media revenues highlight an ongoing shift in Takashimaya’s revenue mix toward its core metropolitan locations and online channels, signaling a continued strategic focus on higher-traffic areas and digital growth.

The most recent analyst rating on (JP:8233) stock is a Buy with a Yen2612.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya to Book Large Extraordinary Loss on Bond Buyback, Slashes Full-Year Profit Forecast

Takashimaya will record a substantial extraordinary loss stemming from its tender offer to repurchase and cancel Zero Coupon Convertible Bonds due 2028, after fixing the total face value of bonds to be bought back at ¥59.99 billion. Based on the minimum purchase price of approximately ¥99.05 billion versus the bonds’ book value, the company expects at least ¥38.98 billion in extraordinary losses, with the exact amount to be finalized when the purchase price is set on February 24, 2026 and cancellation slated for February 26, 2026. Reflecting this one-off loss, Takashimaya has sharply downgraded its forecast for profit attributable to owners of parent for the fiscal year ending February 28, 2026 from ¥40 billion to ¥13 billion, a 67.5% reduction, while leaving revenue and operating profit projections unchanged, signaling that core business performance remains intact but bottom-line results will be heavily impacted by balance sheet management measures.

The most recent analyst rating on (JP:8233) stock is a Buy with a Yen2180.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Sets ¥59.99 Billion Convertible Bond Buyback, Plans Early Redemption of Remainder

Takashimaya Company, Limited has fixed the total face value of zero coupon convertible bonds due 2028 to be purchased via its tender offer at ¥59.99 billion, of which ¥57.93 billion qualifies for an early tender premium, with the purchase price scheduled to be set on 24 February 2026. The company will cancel the bonds acquired and expects the remaining outstanding amount to fall below 10% of the original issue size, enabling it to exercise a clean-up clause and redeem all remaining bonds early, a move that will result in an extraordinary loss for the fiscal year ending 28 February 2026 but will streamline its capital structure and reduce future potential equity dilution for stakeholders.

The most recent analyst rating on (JP:8233) stock is a Buy with a Yen2180.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Extends Tender Offer Period for 2028 Convertible Bond Buyback

Takashimaya Company, Limited has amended the terms and timetable of its previously announced tender offer for its Zero Coupon Convertible Bonds due 2028, following a board resolution on January 13, 2026. To accommodate investors who require more time to prepare their bond tenders, the company has extended the tender period from January 15, 2026 to January 29, 2026 and pushed back the planned purchase and cancellation date from February 20, 2026 to February 26, 2026, while also moving the early tender premium deadline and the reference share price calculation period to later dates. These changes are intended to broaden investor participation in the buyback and proceed with the planned cancellation of purchased bonds and related treasury share measures without altering other previously disclosed terms, potentially aiding Takashimaya’s capital structure management and signalling a continued focus on shareholder-oriented financial policies.

The most recent analyst rating on (JP:8233) stock is a Buy with a Yen2122.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Steadies Q3 Outlook as Finance Arm Gains Traction and Domestic Shoppers Offset Inbound Risk

Takashimaya reported that all business segments are broadly tracking its FY2025 third-quarter forecasts, with particularly strong momentum in its Finance segment driven by a revamped card reward program, robust new member growth, and higher transaction volumes, alongside expansion into private banking and M&A-led investment and lending. In its domestic department stores, solid spending by Japanese customers is offsetting emerging pressure on inbound sales due to China’s travel discouragement and potential flight cuts around Chinese New Year, prompting the company to hold its full-year guidance while working to lift margins by shifting its sales mix toward higher-margin fashion products and maintaining tight control of SG&A, even as it continues to invest in human capital, ESG and digital transformation to underpin its FY2026 profitability and longer-term earnings ambitions.

The most recent analyst rating on (JP:8233) stock is a Buy with a Yen2122.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Updates Tender Offer Pricing for 2028 Zero Coupon Convertible Bonds

Takashimaya Company, Limited has updated the terms of its previously announced tender offer for its zero coupon convertible bonds due 2028, confirming that the CB ask price used to determine the purchase price is 161.148%, based on the Bloomberg BGN ask price at 15:30 Tokyo time on January 6, 2026. This technical adjustment clarifies the pricing mechanics for bondholders participating in the tender and supports Takashimaya’s broader balance sheet management and capital structure strategy, including the planned cancellation of purchased bonds and related treasury share measures.

The most recent analyst rating on (JP:8233) stock is a Hold with a Yen1708.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Warns of Profit Hit From Buyback and Cancellation of 2028 Convertible Bonds

Takashimaya Company’s board has approved the purchase and cancellation of its Zero Coupon Convertible Bonds due 2028 through a tender offer, a move that will generate an extraordinary loss equal to the difference between the bonds’ purchase price and their book value. Because the final loss will depend on how many bonds are tendered, the company cannot yet quantify the impact, but it expects consolidated profit attributable to owners of parent and non-consolidated net profit to decline by roughly 70% of the extraordinary loss after tax effects, and it plans to announce finalized figures and revise its earnings forecast if necessary once the amounts are determined.

The most recent analyst rating on (JP:8233) stock is a Hold with a Yen1708.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya to Buy Back and Cancel ¥60 Billion in Convertible Bonds, Delaying Treasury Share Cancellation

Takashimaya’s board has approved a tender offer to purchase the entire ¥60 billion outstanding issue of its zero coupon convertible bonds due 2028 and subsequently cancel them, aiming to execute large-scale shareholder returns more quickly while eliminating future dilution risk now that the share price is trading above the bonds’ conversion price. In connection with this move, the company has decided to postpone a previously scheduled cancellation of treasury shares acquired through buybacks, and it warns that the difference between the purchase price and book value of the bonds will be recorded as an extraordinary loss that could reduce profit attributable to owners of parent and non‑consolidated net profit by roughly 70% of that loss, with earnings forecasts to be revised once the final figures are known.

The most recent analyst rating on (JP:8233) stock is a Hold with a Yen1708.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Maintains Full-Year Outlook as Nine-Month Profit Rises Despite Softer Revenue

Takashimaya reported consolidated results for the nine months ended 30 November 2025 showing a slight decline in operating revenue and profits year on year, with total operating revenue down 1.3% and operating profit down 10.3%, while profit attributable to owners of parent rose 14.0% due mainly to share-related factors and other non-operating items that lifted earnings per share to ¥99.00. The retailer maintained its full-year forecast, expecting a modest 1.7% decline in total operating revenue and an 8.7% drop in operating profit, but a slight increase in full-year profit attributable to owners of parent, alongside a planned annual dividend of ¥34 per share; the company also continued its shareholder return measures through treasury share buybacks and the purchase and cancellation of convertible bonds, moves that support per-share metrics and signal a focus on capital efficiency despite softer top-line growth.

The most recent analyst rating on (JP:8233) stock is a Hold with a Yen1708.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.

Takashimaya Completes Treasury Share Purchase to Address ESG Goals

Takashimaya Company, Limited has completed its planned purchase of treasury shares, acquiring 1,484,700 common shares at an aggregate price of 2,471,118,036 yen through open market transactions on the Tokyo Stock Exchange. This purchase is part of a broader initiative resolved by the Board of Directors to buy back up to 15 million shares, with a maximum budget of 15 billion yen, to enhance shareholder value and address key ESG issues. The company plans to allocate the ESG contributions from this scheme to tackle its significant environmental, social, and governance challenges, with further details to be disclosed upon finalization.

The most recent analyst rating on (JP:8233) stock is a Buy with a Yen1454.00 price target. To see the full list of analyst forecasts on Takashimaya Company stock, see the JP:8233 Stock Forecast page.