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Takashimaya has identified the site for its first mall in Hanoi in the Tây Hồ Tây urban area, positioning the project as a new growth driver for the Japanese group.
Located within the SL Urban complex, the initial phase covers about 4,926 square meters, with a building plan of 10 floors above ground and 3 basements.
The site is in one of Hanoi’s highest-valued real estate corridors. Under the city’s latest land price table, the plot facing a major road has surpassed 114 million dong per square meter.
Takashimaya’s mall is set to complete the retail ecosystem in the area, opposite the 35-story Shilla Hotel and not far from Samsung’s R&D Center and THACO’s Emart project.
Takashimaya plans to invest about 2 billion yen (roughly 340 billion dong) for the project. The opening is planned for Q3 2027.
The northern expansion is part of President Yoshio Murata’s strategy to raise Vietnam’s share of the group’s global profits from about 4% to 5–10%. The approach applies a “cash-flow business” model that combines retail, real estate, and education to optimize margins.
The expansion also comes as the parent company’s core business in Japan faces pressure.
In the consolidated financial results for the nine months to November 30, 2025, Takashimaya reported revenue down 1.3% and operating profit down 10.3% to 37.2 billion yen. The decline was mainly attributed to a high year-ago base, when post-Covid consumption surged.
Despite retail declines, net income attributable to shareholders rose 14.0% to 29.7 billion yen, largely driven by financial activities, asset disposals, and exchange-rate effects.
Earnings per share reached 99 yen.
The group maintains a dividend policy of 34 yen per share and continues capital optimization measures, including share buybacks, to protect shareholder value during the strategic transition.
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