Core Insights - The Japanese department store industry is projected to achieve sales of 5.7722 trillion yen (approximately 268.4 billion RMB) in 2024, marking a year-on-year growth of 6.8% and a recovery to pre-pandemic levels [2] - The increase in sales is driven by factors such as the depreciation of the yen, high demand for luxury goods, and a rise in inbound tourist spending, with total duty-free sales reaching a record 648.7 billion yen (approximately 30.2 billion RMB), up 85.9% year-on-year [2] - While major urban department stores are performing well, smaller regional stores continue to face operational challenges, particularly in areas with fewer inbound tourists [2] Group 1: Industry Performance - The top three companies in the department store sector maintain a combined market share of 53.14%, reflecting a 0.80 percentage point increase from the previous year, indicating a trend towards market concentration among leading firms [2] - Mitsukoshi Isetan Holdings is expected to report total sales of 1.21 trillion yen (approximately 56.3 billion RMB) for the fiscal year ending March 2025, representing a 6.4% increase, with a market share of 20.96% [3] - Takashimaya's total revenue for the fiscal year ending February 2025 is projected at 1.0327 trillion yen (approximately 48 billion RMB), showing an 8.5% year-on-year growth and an increase in market share to 17.89% [5] Group 2: Company Highlights - Isetan Shinjuku's sales reached 421.2 billion yen (approximately 19.6 billion RMB), a 12.1% increase, achieving a historical high [5] - J. Front Retailing, operating brands like Daimaru and Matsuzakaya, anticipates total sales of 824.7 billion yen (approximately 38.3 billion RMB) for the fiscal year ending February 2025, with a 10.2% growth and a market share increase to 14.29% [7] - The growth for J. Front Retailing is attributed to a significant rise in sales from inbound tourists, with sales doubling compared to 2019 [7]