Nagano Tokyu Department Store Co., Ltd. revised consolidated and non-consolidated earnings guidance for the year ending January 31, 2016. For the period, on consolidated basis, the company expects operating revenue of ¥21,066 million against previous guidance of ¥21,552 million, operating profit of ¥86 million against previous guidance of ¥136 million, recurring profit of ¥51 million against previous guidance of ¥96 million and net loss of ¥4,230 million or ¥441.91 per share against previous guidance net income of ¥18 million or ¥1.96 per share.

For the period, on non-consolidated basis, the company expects operating revenue of ¥18,125 million against previous guidance of ¥18,545 million, recurring profit of ¥32 million against previous guidance of ¥77 million and net loss of ¥4,223 million or ¥441.21 per share against previous guidance net income of ¥30 million or ¥3.20 per share. Consolidated and non-consolidated operating revenues are forecast to fall below the previous forecasts chiefly due to weak sales of winter clothing because of weather conditions. Although the company sought to cut costs, the cost cutting was more than offset by the decline in operating revenues. As a result, consolidated and non-consolidated operating profits and recurring profits are expected to fall below the previous forecasts. Consolidated and non-consolidated net income are also expected to fall below the previous forecasts due to the falls in recurring profits and the posting of an impairment loss on fixed assets and the reversal of deferred tax assets.

The company revised dividend guidance for the year 2016. The company not to pay dividend for the year against previous guidance of ¥3.00 per share.