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Home > Company Index > Retail > Department Stores > Tokyu Department Store Co., Ltd.

Tokyu Department Store Co., Ltd.
 NEWS FROM THE STANDARD
International News Briefs
Mar 20 2000 12:00 AM PST

 PROFILE
Tokyu Department Store, the flagship of the retail and distribution division of Tokyu group, is shedding weight to stay afloat. The protracted Japanese economic recession and low consumer demand has reduced its department stores primarily to the Tokyo metropolitan area. Company-wide restructuring has forced it to close all overseas locations (save one in Thailand) and its downtown Tokyo Nihonbashi store; meanwhile, the cash-strapped company is selling off its holdings in financial institutions and real estate. Tokyu also plans to cut nearly 20% of its work force by 2004. The company operates the Bunkamura cultural center (built in 1989) in Tokyo and owns several food businesses. (Food accounts for 22% of sales.)

 COMPETITION
The Daimaru, Inc. (dossier)
Mitsukoshi, Ltd. (8231)
Takashimaya Company, Limited (8233)

 FINANCIAL OVERVIEW
Fiscal Year-End: January
2000 Sales (mil.): 4,761.20
1-Yr. Sales Growth: 13.1%
Employees: 3,633
Revenue per employee: $1,310,542.25

 KEY PEOPLE
• Hirokazu Mizuta
    CEO

 CONTACT INFO
24-1, Dogenzaka 2-chome, Shibuya-ku
Tokyo 150, Japan
Phone: 81-3-3477-3221
Fax: 81-3-3496-7200
Online: Web Site

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