President’s Remarks

Far Eastern Department Stores President
Nancy Hsu

With 58 years of history, Far Eastern Department Stores (FEDS) stands as the only department store in Taiwan to have undergone five generations of transformation, each reflecting its adaptability and forward-looking vision. The company continues to evolve its business model to create growth opportunities while striving for excellence in corporate governance, eco-friendly operations, green procurement, employee care, and social responsibility. From the inside out, it is committed to generating sustainable value and working alongside stakeholders to realize the vision of “Sustain for a Good Life.”

Operational Optimization Sustaining Strong Business Performance

Thanks to dedication of the management team and all employees, in 2024 FEDS completed major renovations at its Taichung Top City and Banqiao Mega City stores—both over a decade old—refreshing the shopping experience for customers. All 12 stores in Taiwan actively drove footprint and sales through merchandise optimization, international exhibitions, and themed promotional events. Despite a challenging and highly competitive market, the company achieved impressive annual revenue of NT$59.3 billion in 2024, continuing to deliver outstanding performance.

Carbon Reduction for a Net-Zero 2050

Following the enactment of the “Climate Change Response Act” in 2023 and the introduction of a carbon fee, businesses must accelerate their carbon reduction efforts. Far Eastern Department Stores has identified key emission sources through greenhouse gas audits and developed a carbon reduction roadmap. By 2024, emissions were reduced by 8.9%. The company aims to cut emissions by 30% by 2030 through energy-saving initiatives, equipment upgrades, increased green power usage, and electrification of its vehicle fleet, aligning with global net-zero goals.

Employee Wellbeing Fostering a Healthy Workplace

Far Eastern Department Stores is committed to creating a fulfilling and healthy work environment. In addition to offering competitive compensation and comprehensive career development plans, the company has promoted employee health since 2019 through wellness programs and sports clubs, with over 3,000 total participants. All corporate and branch offices have received Healthy Workplace certifications.
To further support employee wellbeing, since 2016 the company has adopted eco-certified fabrics for uniforms, ensuring both employee comfort and environmentally responsible production.

Tree Planting First Year Sowing Seeds of a Low-Carbon Future

In line with its philosophy of “giving back to society,” Far Eastern Department Stores remains committed to public welfare. In 2024, the company organized 1,051 charitable events across five key areas: international engagement, support for disadvantaged groups, women and children’s welfare, environmental protection, and local development.

As part of its environmental efforts, 2024 marked the launch of FEDS’s “Tree Planting First Year.” On March 22, the company planted 40 Taiwan-native Calocedrus trees at Wen Sheng Elementary School in Banqiao, New Taipei City—symbolizing a step toward carbon reduction. This initiative will expand to other store locations, inviting communities to join in protecting the environment and advancing net-zero goals.

With 58 years of local presence, Far Eastern Department Stores continues to operate with a customer-centric mindset, launching modern, stylish next-generation stores that offer enhanced shopping spaces and experiences. Moving forward, the company will further strengthen its ESG efforts, expand eco-conscious store development, and remain a trusted partner in helping consumers lead more sustainable lives.