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Japanese department store operator running the Daimaru and Matsuzakaya chains, plus Parco shopping centers.
Japanese department store operator running the Daimaru and Matsuzakaya chains, plus Parco shopping centers.
Many goods in its stores are sold on consignment or by tenant brands, so it books only a share of each sale rather than the full price, and it collects rent from the specialist shops in its Parco centres. Duty-free sales to visitors from abroad are a swing factor, and it is redeveloping prime city sites into larger mixed-use buildings.
In one line: A Japanese Macy's/Nordstrom parent.
Moat: narrow (brand, scale, distribution). Established multi-decade department-store brands with prime urban real estate locations.
Headquarters: Tokyo, Japan · Founded: 1717 · Employees: 5,584
Size J Front Retailing (3086.T) is a Japan Consumer Discretionary company (Department Stores) with a market value of $4.46B, the 264th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,833 on 6 Nov 2026.
Performance Over six months the shares gained 24.0%, against +7.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 3.0% over the last twelve months (peer median +1.6%); the operating margin is 11.2% (peer median 7.1%).
Valuation It trades at 22.1× forward earnings against a peer median of 14.7× (3rd most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.8 points below its cost of capital (5.3% WACC).
Next results Next results expected around 22 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥439B | ¥445B | ¥442B | ¥407B | ¥360B |
| Revenue growth | — | +1% | +9% | +13% | — |
| Gross profit | ¥215B | ¥191B | ¥188B | ¥170B | ¥143B |
| EBITDA | ¥92.8B | ¥94.9B | ¥99.1B | ¥90.8B | ¥74.0B |
| Net income | ¥27.3B | ¥28.3B | ¥41.4B | ¥29.9B | ¥14.2B |
| Free cash flow | ¥52.6B | ¥52.8B | ¥71.4B | ¥83.7B | ¥56.8B |
| Capital expenditure | ¥22.7B | ¥18.7B | ¥17.0B | ¥9.89B | ¥8.64B |
| Total debt | ¥334B | ¥337B | ¥364B | ¥364B | ¥414B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| J Front Retailing 3086.T | $4.46B | +24% | -3% | 11% | 22.1× | 5.9% |
| Takashimaya 8233.T | $3.98B | +14% | +2% | 11% | 15.6× | 2.4% |
| Isetan Mitsukoshi 3099.T | $7.16B | +14% | 0% | 15% | 17.5× | 7.4% |
| H2O Retailing 8242.T | $2.10B | +17% | 0% | 5% | 12.3× | -9.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 3086.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.6% | +0.3% | 5th highest of 21 |
| 6-month return | +24.0% | +7.0% | 3rd highest of 21 |
| Distance from 52-week high | -21.7% | -20.0% | 10th lowest of 21 |
| Revenue growth (TTM) | -3.0% | +1.6% | 4th lowest of 21 |
| Operating margin | 11.2% | 7.1% | 6th highest of 21 |
| Forward P/E | 22.1× | 14.7× | 3rd most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 5.9% | 1.5% | 3rd most demanding of 18 |
| Growth delivered (Del g) | +6.9% | +2.1% | 6th highest of 18 |
| Hurdle (Req g minus delivered) | -1.0 pp | -5.7 pp | 8th most demanding of 18 |
| ROIC minus cost of capital | -0.8 pp | +0.3 pp | 9th lowest of 21 |
| EV / EBITDA | 11.0× | 8.5× | 3rd most expensive of 14 |
| Net debt / EBITDA | 3.3× | 2.2× | 6th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| J Front Retailing 3086.T | Japan | $4.46B | +24% | -3% | 11% | 22.1× | 5.9% | +6.9% |
| Takashimaya 8233.T | Japan | $3.98B | +14% | +2% | 11% | 15.6× | 2.4% | -6.3% |
| Harvey Norman HVN.AX | Australia | $3.84B | +2% | +5% | 18% | 13.8× | 4.7% | +0.8% |
| Ollie's Bargain Outlet OLLI | United States | $5.37B | +10% | +14% | 12% | 19.8× | 1.5% | +7.9% |
| CCOOP 000564.SZ | China | $3.55B | -23% | +19% | -46% | n/a | n/a | n/a |
| Macy's M | United States | $6.03B | +18% | 0% | 4% | 10.8× | -1.1% | +4.6% |
| Tokyu 9005.T | Japan | $6.14B | -3% | +5% | 9% | 10.0× | n/a | n/a |
| Isetan Mitsukoshi 3099.T | Japan | $7.16B | +14% | 0% | 15% | 17.5× | 7.4% | -7.7% |
| Canadian Tire CTC-A.TO | Canada | $7.57B | +7% | +1% | 9% | 14.1× | 1.9% | +1.9% |
| Kohl's KSS | United States | $2.61B | +59% | -3% | 4% | 15.3× | 0.0% | -0.5% |
| Ceconomy CEC.DE | Germany | $2.47B | +9% | +4% | 1% | 7.8× | 2.9% | +2.1% |
| Dillard's DDS | United States | $9.41B | +7% | 0% | 11% | 17.4× | 1.6% | +8.2% |
| H2O Retailing 8242.T | Japan | $2.10B | +17% | 0% | 5% | 12.3× | -9.7% | -1.6% |
| Beijing United Information Technology 603613.SS | China | $2.05B | -30% | -4% | 5% | n/a | n/a | n/a |
| Easyhome New Retail 000785.SZ | China | $1.97B | -18% | -23% | 3% | 19.3× | 1.0% | +4.4% |
| Seria 2782.T | Japan | $1.91B | +18% | +13% | 9% | 15.2× | -2.1% | +5.0% |
| Lotte Shopping 023530.KS | South Korea | $1.87B | -33% | +1% | 5% | 7.9× | 5.8% | -3.2% |
| Marks and Spencer MKS.L | United Kingdom | $12.1B | +40% | +21% | 5% | 13.1× | 6.5% | +13.6% |
| Wangfujing 600859.SS | China | $1.65B | -21% | -10% | 5% | 244.5× | -13.6% | -2.4% |
| Shinsegae 004170.KS | South Korea | $1.59B | -38% | +7% | 9% | 5.8× | -2.2% | +7.8% |
| Anhui Anfu Battery Technology 603031.SS | China | $1.43B | -39% | +4% | 23% | 23.0× | -0.2% | +21.9% |