Medium-term Management Plan

Management Strategy

Our group’s business environment improved because of an expected increase in foreign tourists due to continued depreciation of the Yen, the significant relaxation of regulations on foreigners’ entry, surging demand in Asia for overseas travel backed by strong economic growth in the region, and others. On the other hand, the competition is intensifying because of new entries into the market from other industries or countries and existing retailers’ efforts to expand their tax-free operations.

In such an environment, we will realize three “Premiums”, with the domestic store business at its core, to secure and further strengthen our position as the pioneer of building up a network of general tax-free stores and achieve continued growth.

Business Strategy for Each Segment

Domestic Store Business

[Basic policies]
1) We aim to build up the best network of tax-free stores in Japan.
2) We aim to achieve greater consumer satisfaction by globalized customer service.

3) We aim to create “win-win-win” relations in which makers (and suppliers), customers, and we are all satisfied.

Branch Store Business in China

[Basic policy]
With the purpose of selling made-in-Japan products in China, we will try to strike a balance between EC (Electronic Commerce) sales and real store sales while carefully following market trends.

Foreign Trade Business

[Basic policy]
Following marketing trends, we will maintain a balance between export and import and continue to offer high-quality products.

Quantitative Target

■Targeted consolidated results (millions of yen)

2015/12(Results) 2016/12 2017/12
Sales 70,000 65,000 90,000
Gross profit 22,960 22,750 31,500
Gross profit margin 33.0% 35.0% 35.0%
Profits 4,550 1,250 2,700
Profit margin 6.5% 1.9% 3.0%

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