Japanese department store operator Daiwa Co., Ltd. (8247) on Oct. 13 cut its net profit forecast for the year ending February 2027 to a loss of ¥900 million from a ¥100 million profit, citing extraordinary losses tied to its subsidiary Kanazawa New Grand Hotel, while keeping its sales, operating profit and ordinary profit forecasts unchanged.
For the first half ended Aug. 31, consolidated sales fell 0.7% from a year earlier to ¥7.935 billion and operating profit dropped 10.3% to ¥139 million. Ordinary profit of ¥154 million was down 11.6% but beat the company's earlier ¥100 million forecast, helped by higher dividend income at the parent level. Net loss attributable to owners of the parent was ¥584 million, or ¥104.30 per share, against a forecast profit of ¥50 million.
The swing reflects a ¥672 million impairment loss on the hotel unit's fixed assets and ¥85 million in consulting costs for management restructuring, both booked as extraordinary losses in the first half. Daiwa has transferred all of its shares in the hotel company along with its loans to the unit, and expects to book about ¥100 million in transfer-related costs and about ¥130 million in restructuring costs for the full year.
| Item | Previous | Revised |
|---|---|---|
| Sales | ¥16.0 billion | ¥16.0 billion |
| Net profit | ¥100 million | -¥900 million |
| EPS | ¥17.83 | -¥160.47 |
On a non-consolidated basis, Daiwa also booked a ¥671 million provision for losses on affiliates and a ¥197 million valuation loss on affiliate shares, which the company said are eliminated on consolidation. It cut its non-consolidated full-year net forecast to a loss of ¥1.1 billion from a ¥100 million profit. The equity ratio stood at 18.6% at the end of August, and the full-year dividend forecast remains undecided.
Next steps: Daiwa plans to file its semi-annual report on Oct. 15, 2026.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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