TOKYO -- Isetan Mitsukoshi Holdings likely suffered a roughly 30% drop in operating profit to 23.5 billion yen ($209 million) in fiscal 2016, hit by a decline in tourist spending and weak sales at its suburban and regional stores.
The Japanese department store operator's standing projection calls for an operating profit of 24 billion yen. The company is due to announce its fiscal 2016 earnings on May 10.
