TOKYO —Isetan Mitsukoshi Holdings, Japan's largest department store operator, said Friday that its nine-month net profit plummeted 68.7 percent due to a high comparative base on tax benefits and extraordinary gains from a year ago.
The company, which manages the Isetan and Mitsukoshi chains of department stores, posted a nine-month net profit of 17.56 billion yen, or $219.64 million at average exchange rates for the nine months ended Dec. 31.
Operating profit fared better, dropping 2.8 percent to 24.12 billion yen, or $301.75 million.
The retailer said its net sales for the period dropped 1.4 percent to 919.67 billion yen, or $11.51 billion.
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