# H2O Retailing vs Isetan Mitsukoshi Holdings vs J.front Retailing vs Tokyu

> Unit: JPY millions (ratios in %)
> Periods: H2O Retailing = FY ending Mar 2026, consolidated, J-GAAP / Isetan Mitsukoshi Holdings = FY ending Mar 2026, consolidated, J-GAAP / J.front Retailing = FY ending Feb 2026, consolidated, IFRS / Tokyu = FY ending Mar 2026, consolidated, J-GAAP
> Retrieved: 2026-09-30T20:41:54.265Z

| Metric | H2O Retailing | Isetan Mitsukoshi Holdings | J.front Retailing | Tokyu |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 680,215 | 545,626 | 445,094 | 1,086,179 |
| Operating income | 32,386 | 80,020 | 49,015 | 103,193 |
| Net income | 29,950 | 76,096 | 28,282 | 87,071 |
| COGS ratio | 54.7% | 38.3% | 51.6% | — |
| Operating margin | 4.8% | 14.7% | 11.0% | 9.5% |
| Net margin | 4.4% | 13.9% | 6.4% | 8.0% |
| FCF margin | 3.3% | 11.0% | 10.8% | -2.9% |
| Period | FY ending Mar 2026 | FY ending Mar 2026 | FY ending Feb 2026 | FY ending Mar 2026 |
| Source | S100YDD0 | S100YD7C | S100Y6K0 | S100YE63 |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | H2O Retailing | Isetan Mitsukoshi Holdings | J.front Retailing | Tokyu |
| --- | ---: | ---: | ---: | ---: |
| Revenue growth | 12.2 (45 peers) | 58.3 (6 peers) | 91.7 (6 peers) | 47.8 (45 peers) |
| Profitability | 80.6 (49 peers) | 92.9 (7 peers) | 78.6 (7 peers) | 92.9 (49 peers) |
| Cash conversion | 56.4 (47 peers) | 7.1 (7 peers) | 21.4 (7 peers) | 30.9 (47 peers) |
| Efficiency | 9.2 (49 peers) | 35.7 (7 peers) | 7.1 (7 peers) | 1 (49 peers) |
| Financial strength | — | — | — | 18.8 (8 peers) |

## Company details

- https://vizora.meequs.com/en/company/h2o-retailing/md
- https://vizora.meequs.com/en/company/isetan-mitsukoshi-holdings/md
- https://vizora.meequs.com/en/company/j-front-retailing/md
- https://vizora.meequs.com/en/company/tokyu/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).