J. Front Retailing Group (the “Group”) has prepared its FY2014–2016 Medium-term Business Plan.
The Group intends to complete construction of the Ginza 6-chome district 10 redevelopment project in January 2017, and plans to open the south wing of Matsuzakaya Ueno store now under reconstruction in fall 2017.
In line with these plans, over fiscal 2014–2016, setting our sights on growth for fiscal 2017 and beyond, we will not only continue to push ahead with efforts to establish a new department store business model, but also strengthen our initiatives as a multi-retailer that also consists of Parco, StylingLife Holdings and Forest, thus meeting diverse customer needs and dramatically strengthening the competitiveness and profitability of the Group. In this way, we will enhance corporate value and earn the funds for our growth in 2017 and after.
By using the management resources of the Group, we will also push ahead with efforts in fields we consider to have medium and long term growth potential for the Group. Specifically, we will construct a foundation for a business model for growth along with the regions in which we operate with our stores at the core of such growth (urban dominant strategy) and promote omni-channel retailing.
In addition, we will work to expand the breadth of our businesses as a multi-retailer by actively pursuing mergers and acquisitions and joint ventures with external companies.
In order to put these strategies into practice, we will promote management that puts emphasis on human resources and values diversity, and foster a corporate culture that values creation and challenges. While we expand the Group and promote diversity in our workforce, we will also work to ensure thoroughgoing compliance and CSR operations.
|Consolidated operating profit||¥45 billion|
|Consolidated operating margin||4.0%|
|Operating cash flows||¥130 billion
(total for FY2014-2016)
(total for FY2014-2016)
|Department Store Business||¥49.5 billion|
|Parco Business||¥37 billion|
|Other Businesses||¥3.5 billion|
|[ Total ]||¥110 billion|
■Department Store Business
Nagoya Zero Gate
■Ginza 6-chome District 10 redevelopment(scheduled to open in April 2017)
We are committed to creating an unparalleled commercial facility with the right concept for Ginza which has long attracted a diverse range of visitors from throughout Japan and the entire world and we will work with other commercial floor owners to operate all commercial floors in an integrated manner.
■Rebuilding of the south wing of Matsuzakaya Ueno store(scheduled to open in fall 2017)
The south wing will be rebuilt as a high-rise complex featuring a Parco store, a cinema complex and sophisticated office facilities such that are not currently available in the Okachimachi district, Ueno. This project will breathe new life into the Okachimachi district, which is undergoing many redevelopments, and contribute to the vitality of the area.
■Shinsaibashi district redevelopment
To make us significantly more competitive in the Osaka area where an over-abundance of large commercial facilities increases competition, we will move forward with the Shinsaibashi district redevelopment project which is centered on Daimaru Shinsaibashi store (the main building and north and south wings), and also involves the use of real estates and commercial facilities in the district.