第 1 頁 共 2 頁 v 1.1.1 EF001 | | | EF001 | | --- | --- | --- | | 免責聲明 | | | | | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | | | 香港預託證券現金股息公告 | | | 發行人名稱 | 迅銷有限公司 | | | 股份代號 | 06288 | | | 多櫃檯股份代號及貨幣 | 不適用 | | | 相關股份代號及名稱 | 不適用 | | | 公告標題 | 派發截至二零二五年八月三十一日止年度之末期股息的建議記錄日期 | | | 公告日期 | 2025年8月1日 | | | 公告狀態 | 新公告 | | | 股息信息 | | | | 股息類型 | 末期 | | | 股息性質 | 普通股息 | | | 財政年末 | 2025年8月31日 | | | 宣派股息的報告期末 | 2025年8月31日 | | | 宣派股息 | 有待公佈 | | | 股東批准日期 | 不 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何 損失承擔任何責任。 FAST RETAILING CO., LTD. 迅銷有限公司 （於日本註冊成立的有限公司） （股份代號：6288） 派發截至二零二五年八月三十一日止年度之末期股息及 於二零二五年股東周年大會上投票之權利所依據的建議記錄日期 本公告乃根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.66(1)條而作出。 (1) 待迅銷有限公司（「本公司」）之董事會於根據上市規則第13.43條所公佈將舉行的會議上批 准及確認後，截至二零二五年八月三十一日止年度之末期股息（如有）將會派付予於二零二 五年八月二十九日（星期五）名列於(a)日本股東名冊上的股東，以及(b)香港預託證券登記冊 上的香港預託證券持有人； (2) 根據存管協議條款指示存管處或其代名人出席本公司二零二五年股東周年大會並在會上投票 之權利將授予於二零二五年八月二十九日（星期五）名列於香港預託證券登記冊上的香港預 託證券持有人； (3) 任何人 ...

Core Insights - The global fashion industry is experiencing differentiated consumer demand and a restructuring of competitive dynamics, making brand strategy in China increasingly critical [1] - Fast Retailing, the parent company of Uniqlo, reported a record high in revenue and operating profit for the third quarter of fiscal year 2025, with revenues reaching 2.6167 trillion yen, a 10.6% year-on-year increase [1] - Uniqlo's strategy in China focuses on "regional cultivation" through a "store-by-store" approach, creating differentiated product offerings and localized consumer experiences [1][2] Group 1: Regional Market Development - The "store-by-store" strategy is central to Uniqlo's deepening presence in the Chinese market, tailoring product combinations and store experiences to meet local consumer needs [2] - The opening of the Chengdu flagship store in May 2023, which spans nearly 2,000 square meters, exemplifies this strategy with exclusive products and community engagement initiatives [2][4] - Uniqlo plans to open six regional quality stores in cities like Xuchang, Zhengzhou, and Wuhan from May to August 2023, further implementing its localized strategy [4][6] Group 2: Product Strategy and Innovation - Uniqlo emphasizes functional innovation and scene adaptability in its product strategy, addressing real consumer needs amid a competitive market [7] - The launch of a China-exclusive cooling sun protection clothing line has gained significant attention, establishing a quality benchmark in the market [7][9] - The brand's product offerings, such as the DRY-EX series and AIRism clothing, are designed to meet diverse lifestyle scenarios, enhancing consumer comfort and efficiency [9] Group 3: Emotional Connection and Cultural Integration - Uniqlo connects with younger consumers through collaborations with popular cultural IPs, such as the upcoming partnership with Pop Mart featuring the LABUBU family [9][11] - Since initiating the "Cultural Co-Creation" plan in 2021, Uniqlo has launched over 30 local cultural collaboration series, reinforcing its brand identity as a "wearable cultural memory" [12] - The brand's success during the Tmall "6.18" sales event highlights consumer recognition of its product functionality and the brand loyalty fostered through cultural engagement [14]

Core Viewpoint - Uniqlo is experiencing a decline in its Chinese market, which is the only market globally where it has seen a drop in performance, leading to a decrease in both revenue and profit [1][9]. Group 1: Consumer Sentiment - Many loyal customers feel alienated by Uniqlo's shift towards a "spicy girl" style, which features tighter and shorter clothing, making it less accessible for average consumers [2][3]. - Consumers have expressed frustration over the sizing, with reports that women's S sizes are smaller than children's sizes, leading to a perception that Uniqlo has abandoned its core customer base [3][4]. - The increase in prices and perceived decrease in value has led to a significant drop in purchase frequency among former loyal customers [4][6]. Group 2: Pricing and Quality Issues - Uniqlo has been criticized for increasing prices while the quality of its products has reportedly declined, with some consumers noting that items shrink or lose shape after washing [8][15]. - The price-to-cost ratio for Uniqlo's products has shifted from 2.5-3 times to over 4 times, indicating a significant markup that is not aligned with consumer expectations [6][14]. - A survey indicated that nearly half of respondents cited "high prices" as a reason for not purchasing Uniqlo products, with others pointing to quality issues and limited styles [7]. Group 3: Market Performance - Uniqlo's parent company, Fast Retailing, reported a 5% decline in revenue and a 3% decline in operating profit in the Chinese market, contrasting with growth in other regions [9][12]. - The company's attempts to pivot towards trendy styles and smaller sizes have resulted in short-term revenue increases but have alienated long-term customers [12][18]. - Fast Retailing has acknowledged the impact of competition from lower-priced alternatives, which has contributed to Uniqlo's declining market share in China [9][14]. Group 4: Strategic Shifts - Uniqlo is attempting to reposition itself by focusing on brand storytelling and enhancing the shopping experience through flagship stores and localized product offerings [17][18]. - The company is moving away from its traditional efficiency-driven model to a more experience-oriented approach, aiming to create a lifestyle brand rather than just a clothing retailer [18][19]. - Despite these efforts, analysts suggest that the long-term effectiveness of these strategies remains uncertain, as the brand's core identity may be compromised [13][14].

Core Viewpoint - The article discusses the rising trend of "平替" (alternative products) among young consumers, highlighting how brands like Uniqlo are being replaced by more cost-effective options, including factory white-label products, as consumers prioritize practicality and affordability over brand prestige [4][5][17]. Group 1: Market Trends - The term "平替" has become a key search term among young consumers, with Uniqlo frequently cited as a go-to alternative for various high-end brands [4][10]. - The popularity of "平替" has led to a surge in content on platforms like Xiaohongshu, with discussions around cost-effective alternatives reaching nearly 60 billion views [13][15]. - A significant shift in consumer mindset is noted, with approximately 85% of respondents in a survey indicating they purchased alternatives in the past year [17]. Group 2: Consumer Behavior - Young consumers are increasingly seeking products that offer similar quality to branded items but at a lower price point, reflecting a change in purchasing priorities [17][27]. - The experience of consumers with "平替" products often includes a mix of satisfaction and disappointment, as quality can vary significantly [21][35]. - Many consumers are willing to overlook minor quality issues in favor of lower prices, indicating a shift towards valuing affordability over brand loyalty [23][24]. Group 3: Industry Challenges - The rise of "平替" has led to a complex market where consumers may encounter counterfeit or subpar products, complicating their purchasing decisions [31][35]. - Reports indicate that a portion of consumers have experienced issues with quality and authenticity when purchasing "平替" items, leading to a growing concern about the reliability of such products [43][48]. - The article highlights the prevalence of misleading marketing practices, where products are falsely advertised as alternatives to high-end brands, contributing to consumer mistrust [44][50]. Group 4: Future Outlook - The trend of "平替" is expected to continue evolving, with consumers becoming more discerning and aware of marketing tactics used by brands [69][70]. - As the market matures, there is a potential shift towards a more rational consumer mindset, where individuals prioritize quality and value over brand names [66][70]. - The article suggests that the concept of "平替" may lead to a broader reevaluation of consumer spending habits, with an emphasis on long-term value rather than immediate gratification [68].

Core Viewpoint - Uniqlo is facing challenges in the Greater China market, which was once a significant growth driver, now becoming a profit drag due to declining consumer demand and increased competition from local brands [3][11][16]. Financial Performance - For the third quarter ending May 31, 2025, Uniqlo reported a revenue increase of 7.7% year-on-year to 826.5 billion yen (approximately 40.4 billion RMB), but net profit decreased by 9.7% to 105.5 billion yen (approximately 5.16 billion RMB) [3]. - In the first three quarters, revenue in the Greater China market decreased by approximately 3% in local currency, with operating profit down about 8% [4]. - The management estimates a revenue decline of about 10% and profit contraction for the second half of the 2025 fiscal year in the Greater China market [5]. Market Dynamics - Uniqlo's performance in Japan, North America, Europe, and Southeast Asia remains strong, contrasting with the weak demand in China, which has affected overall net profit [3]. - The company has seen a significant drop in same-store sales since 2024, attributing 50% of the poor performance to external factors and 50% to internal issues [11]. Strategic Adjustments - Uniqlo is undergoing structural reforms, focusing on product pricing adjustments and enhancing marketing efforts to better align with consumer expectations in China [5][16]. - The company is shifting its strategy from expanding the number of stores to improving the profitability of existing locations, with plans to open regional flagship stores in major cities [15][18]. Competitive Landscape - The rise of "alternative products" from local brands is seen as a significant threat to Uniqlo's market share in China [15]. - Uniqlo aims to coexist with local brands, leveraging collaborations with artists and designers to create differentiated products [16]. Future Outlook - Management targets improved performance in the 2026 fiscal year compared to 2025, with a complete transformation of the business model by the 2027 fiscal year [17]. - The company maintains its revenue and profit outlook for the 2025 fiscal year at 3.4 trillion yen and 410 billion yen, respectively, which translates to approximately 166.5 billion RMB and 20.1 billion RMB [18].

Core Insights - FAST RETAIL-DRS reported a total comprehensive income of 2,616.7 billion JPY for the nine months ending May 31, 2025, representing a 10.6% year-on-year increase, with operating profit rising by 12.2% to 450.9 billion JPY, marking the best performance in the company's history [1] - The overall gross profit margin decreased by 0.2 percentage points to 53.8%, while the ratio of selling, general, and administrative expenses to revenue improved by 0.5 percentage points to 36.9% [1] - The company recorded a net increase of 69.5 billion JPY in financing income and costs, driven by a net increase in interest income of 39.8 billion JPY and foreign exchange gains of 29.7 billion JPY [1] Japan UNIQLO Division - For the first three quarters of the fiscal year, the Japan UNIQLO division reported total revenue of 801.4 billion JPY, a year-on-year increase of 11.0%, and operating profit of 150.6 billion JPY, up 17.8% [2] - Same-store sales increased by 7.5% due to strong sales of seasonal products during the Thanksgiving and Golden Week periods, despite a 2.1 percentage point decline in gross profit margin due to a weak yen and increased discount promotions [2] - The ratio of selling, general, and administrative expenses to revenue improved by 1.2 percentage points due to rising sales [2] Overseas UNIQLO Division - The overseas UNIQLO division achieved total revenue of 1,457.1 billion JPY, a 12.7% year-on-year increase, with operating profit rising by 8.4% to 240.6 billion JPY [2] - Strong support for UNIQLO's core products and the introduction of high-quality stores that convey the LifeWear brand value contributed to robust performance [2] Regional Performance - In the Greater China region, revenue in mainland China decreased by approximately 5% year-on-year, with operating profit down about 3% due to low consumer sentiment and prolonged low temperatures [3] - South Korea saw significant growth in both revenue and profit due to strategic inventory management and effective marketing strategies [3] - North America and Europe also reported substantial increases in revenue and profit, driven by enhanced marketing activities and successful new store openings [3] GU Division - The GU division reported total revenue of 256.2 billion JPY, a 4.0% year-on-year increase, but operating profit decreased by 10.7% to 26.3 billion JPY [4] - Despite slight growth in same-store sales, the division faced challenges with inventory shortages and insufficient marketing for certain products, leading to lower-than-expected sales performance [4] Global Brands Division - The global brands division experienced a revenue decline to 100.5 billion JPY, down 3.1% year-on-year, but turned a profit with operating income of 2.8 billion JPY compared to a loss of 0.3 billion JPY in the previous year [5] - The Theory business faced challenges in Japan, while PLST saw significant growth in both revenue and operating profit due to strong sales of new products [5] Stock Trading Resumption - The company plans to apply for the resumption of trading of its Hong Kong depositary receipts starting from July 11, 2025 [6]

Core Insights - The company reported a revenue of 26,167.08 billion yen for the nine months ending May 31, 2025, representing a year-on-year growth of 10.6% [1] - Net profit attributable to the parent company was 3,390.99 billion yen, an increase of 8.4% year-on-year, with basic earnings per share at 1,105.36 yen [1] Domestic Business Performance (UNIQLO Japan) - Revenue for the first three quarters reached 801.4 billion yen, up 11.0% year-on-year, with operating profit at 150.6 billion yen, reflecting a 17.8% increase [1] - Same-store sales increased by 7.5% due to strong sales of seasonal products during Thanksgiving and Golden Week [1] - Gross margin decreased by 2.1 percentage points due to a weaker yen affecting procurement costs and increased discount rates for spring inventory clearance [1] - Selling, general, and administrative expenses as a percentage of revenue improved by 1.2 percentage points due to rising sales [1] International Business Performance (UNIQLO Overseas) - Revenue for the first three quarters was 1,457.1 billion yen, a year-on-year increase of 12.7%, with operating profit at 240.6 billion yen, up 8.4% [2] - Strong customer support for core products and the introduction of high-quality stores contributed to robust performance [2] GU Business Performance - Revenue for the first three quarters was 256.2 billion yen, a 4.0% increase, but operating profit fell by 10.7% to 26.3 billion yen [2] - Despite slight growth in same-store sales, overall performance was hindered by insufficient inventory and marketing for certain products [2] - Increased cost rates due to a weaker yen and rising personnel costs negatively impacted profit margins [2] Global Brands Business Performance - Revenue decreased to 100.5 billion yen, down 3.1% year-on-year, while operating profit turned positive at 2.8 billion yen compared to a loss of 0.3 billion yen in the previous year [3] - The Theory brand faced challenges in Japan and Asia, leading to declines in revenue and profit [3] - PLST brand saw significant growth in both revenue and operating profit, driven by popular new products and successful holiday promotions [3] Market Activity - The company plans to apply for the resumption of trading of its Hong Kong depositary receipts on July 11, 2025 [4]

[Consolidated Results Overview](index=1&type=section&id=Consolidated%20Results%20Overview) [Financial Summary](index=1&type=section&id=1.%20Consolidated%20Results) For the nine months ended May 31, 2025, the Group achieved significant growth in both revenue and operating profit, marking its best-ever performance, with full-year dividend forecast at JPY 480.00 per share Consolidated Operating Results (For the Nine Months Ended May 31, 2025) | Indicator | Nine Months Ended May 31, 2025 (Million JPY) | YoY Change (%) | | :--- | :--- | :--- | | Revenue | 2,616,708 | 10.6% | | Operating Profit | 450,952 | 12.2% | | Profit Before Income Tax | 520,506 | 8.9% | | Profit for the Period | 359,607 | 8.3% | | Profit Attributable to Owners of Parent | 339,099 | 8.4% | | Basic Earnings Per Share (JPY) | 1,105.36 | - | Consolidated Financial Position | Indicator | As of May 31, 2025 (Million JPY) | As of August 31, 2024 (Million JPY) | | :--- | :--- | :--- | | Total Assets | 3,698,193 | 3,587,565 | | Total Equity | 2,167,774 | 2,068,254 | | Equity Attributable to Owners of Parent | 2,114,970 | 2,016,535 | Dividend Information | Fiscal Year | Q2 End-of-Period Dividend (JPY) | Full-Year Forecast Dividend (JPY) | | :--- | :--- | :--- | | Ended August 31, 2025 | 240.00 | 480.00 | [Business Segment Performance](index=4&type=section&id=Business%20Segment%20Performance) The Group's overall performance growth was primarily driven by the UNIQLO business, with strong performance in Japan, Europe, North America, and Southeast Asia, while GU revenue grew but profit significantly declined, and Global Brands successfully returned to profitability - The Group achieved its best-ever performance, primarily driven by the strong performance of UNIQLO businesses in Japan, Europe, North America, Southeast Asia, India, Australia, and South Korea[11](index=11&type=chunk) - The Group aims to become the "world's number one brand," with strategic priorities including human capital investment, integrating business with sustainability, evolving into a "digital consumer retail company," diversifying global revenue pillars, and expanding the GU and Global Brands businesses[12](index=12&type=chunk) [UNIQLO Japan](index=4&type=section&id=UNIQLO%20Japan) UNIQLO Japan recorded significant increases in both revenue and operating profit, with net same-store sales growing by 7.5%, and despite a weaker yen increasing cost ratios, sales growth effectively improved various expense ratios UNIQLO Japan Q1-Q3 Performance | Indicator | Amount (Billion JPY) | YoY Growth | | :--- | :--- | :--- | | Total Revenue | 801.4 | 11.0% | | Total Operating Profit | 150.6 | 17.8% | - Performance growth was driven by strong sales of year-round and summer products; however, gross profit margin decreased by **2.1 percentage points** due to yen depreciation and increased discount promotions[13](index=13&type=chunk) [UNIQLO International](index=4&type=section&id=UNIQLO%20International) UNIQLO International achieved significant revenue growth and increased profit, with strong performance in South Korea, Southeast Asia, North America, and Europe, though Greater China saw declining performance due to low consumer sentiment UNIQLO International Q1-Q3 Performance | Indicator | Amount (Billion JPY) | YoY Growth | | :--- | :--- | :--- | | Total Revenue | 1,457.1 | 12.7% | | Total Operating Profit | 240.6 | 8.4% | - In local currency, Greater China's Q3 revenue and operating profit decreased by approximately **5%** and **3%** respectively, while South Korea, Southeast Asia, India, Australia, North America, and Europe all recorded significant increases in revenue and profit[15](index=15&type=chunk) [GU](index=5&type=section&id=GU) GU business recorded revenue growth but a significant profit decline, as insufficient stock of popular summer items, a weaker yen, and increased personnel costs collectively led to the profit decrease GU Q1-Q3 Performance | Indicator | Amount (Billion JPY) | YoY Change | | :--- | :--- | :--- | | Total Revenue | 256.2 | +4.0% | | Total Operating Profit | 26.3 | -10.7% | - Key reasons for the profit decline include insufficient stock and promotion of some high-potential products, increased cost ratios due to a weaker yen, and higher personnel expense ratios from increased wages[17](index=17&type=chunk) [Global Brands](index=5&type=section&id=Global%20Brands) The Global Brands segment successfully returned to profitability with an operating profit of JPY 2.8 billion, driven by strong PLST performance and narrowed losses at Comptoir des Cotonniers, offsetting the decline in Theory Global Brands Q1-Q3 Performance | Indicator | Amount (Billion JPY) | YoY Change | | :--- | :--- | :--- | | Total Revenue | 100.5 | -3.1% | | Total Operating Profit | 2.8 | Returned to Profitability (JPY 0.3 Billion Loss in Prior Period) | - Theory business saw revenue and profit decline due to challenges in Japan and Asian markets; PLST business achieved significant growth in both due to popular new products; Comptoir des Cotonniers narrowed its losses due to increased same-store sales[18](index=18&type=chunk) [Sustainability](index=5&type=section&id=Sustainability) The Group advances sustainability activities across six key areas, including expanding RE.UNIQLO for circularity, strengthening supply chain human rights, achieving a third consecutive CDP "A" rating for GHG reduction, and actively contributing to communities and promoting internal diversity and inclusion - Through "RE.UNIQLO STUDIO," the company provides clothing repair and upcycling services, expanded to **62 stores** in **22 countries and regions** as of May 2025[19](index=19&type=chunk) - To address the impact of climate change on workers, the company partnered with the University of London in April 2025 to research the health effects of heat stress on workers in Cambodia[20](index=20&type=chunk) - The Group received an "A" rating from the international non-profit CDP for climate change for the third consecutive year in 2024, recognizing its proactive emission reduction measures and information transparency[21](index=21&type=chunk) - The company supports community projects such as Myanmar earthquake relief and youth vocational training in India through the "PEACE FOR ALL" program and direct donations[23](index=23&type=chunk) [Financial Position and Cash Flow Information](index=7&type=section&id=(2)%20Financial%20Position%20and%20Cash%20Flow%20Information) As of period-end, the Group's total assets increased by JPY 110.6 billion and total liabilities by JPY 11.1 billion compared to the previous fiscal year-end; net cash from operating activities was JPY 427.1 billion, but net cash outflows from investing and financing activities led to a JPY 201.7 billion decrease in cash and cash equivalents at period-end - The increase in total assets was primarily due to increases in other current financial assets, property, plant, and equipment, while the slight increase in total liabilities was mainly due to an increase in other current liabilities[25](index=25&type=chunk) Cash Flow Summary (For the Nine Months Ended May 31, 2025) | Cash Flow Activity | Amount (Billion JPY) | | :--- | :--- | | Net Cash from Operating Activities | 427.1 | | Net Cash Used in Investing Activities | (372.3) | | Net Cash Used in Financing Activities | (271.4) | | **Net Decrease in Cash and Cash Equivalents** | **(201.7)** | [Performance Forecast](index=2&type=section&id=(3)%20Qualitative%20Information%20on%20Consolidated%20Business%20Performance%20Forecasts) The company maintains its previously announced full-year consolidated business performance forecast for the period ending August 31, 2025, without revision, projecting full-year revenue of JPY 3,400.0 billion and operating profit of JPY 545.0 billion FY2025 Full-Year Performance Forecast | Indicator | Amount (Million JPY) | YoY Change (%) | | :--- | :--- | :--- | | Revenue | 3,400,000 | 9.5% | | Operating Profit | 545,000 | 8.8% | | Profit Before Income Tax | 635,000 | 14.0% | | Profit Attributable to Owners of Parent | 410,000 | 10.2% | | Basic Earnings Per Share (JPY) | 1,336.51 | - | - The company confirms no changes to the full-year consolidated business performance forecast announced on April 10, 2025, at this stage[31](index=31&type=chunk) [Interim Condensed Consolidated Financial Statements](index=8&type=section&id=2.%20Interim%20Condensed%20Consolidated%20Financial%20Statements%20and%20Key%20Notes) [Consolidated Statement of Financial Position](index=8&type=section&id=(1)%20Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This section details the assets, liabilities, and equity as of May 31, 2025, compared to August 31, 2024, with total assets at period-end of JPY 3,698.1 billion and total equity of JPY 2,167.7 billion Consolidated Statement of Financial Position Summary (As of May 31, 2025) | Item | Amount (Million JPY) | | :--- | :--- | | **Assets** | | | Total Current Assets | 2,322,705 | | Total Non-Current Assets | 1,375,488 | | **Total Assets** | **3,698,193** | | **Liabilities and Equity** | | | Total Current Liabilities | 903,240 | | Total Non-Current Liabilities | 627,178 | | **Total Liabilities** | **1,530,419** | | **Total Equity** | **2,167,774** | [Consolidated Statement of Profit or Loss and Comprehensive Income](index=9&type=section&id=(2)%20Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) This section details the statement of profit or loss and comprehensive income for the nine months ended May 31, 2025, reporting gross profit of JPY 1,408.5 billion, operating profit of JPY 450.9 billion, and profit for the period of JPY 359.6 billion Consolidated Statement of Profit or Loss Summary (For the Nine Months Ended May 31, 2025) | Item | Amount (Million JPY) | | :--- | :--- | | Revenue | 2,616,708 | | Gross Profit | 1,408,532 | | Operating Profit | 450,952 | | Profit Before Income Tax | 520,506 | | Profit for the Period | 359,607 | - Total comprehensive income for the period was **JPY 334.6 billion**, a decrease from **JPY 526.8 billion** in the prior year, primarily due to foreign currency translation differences for overseas operations shifting from positive to negative, resulting in a loss in other comprehensive income[37](index=37&type=chunk) [Consolidated Statement of Changes in Equity](index=10&type=section&id=(3)%20Interim%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) This section details changes in share capital, retained earnings, treasury shares, and other equity components for the nine months ended May 31, 2025, showing an increase in retained earnings due to profit, but a decrease in other equity components due to reduced foreign currency translation reserves - As of May 31, 2025, equity attributable to owners of the parent increased from **JPY 2,016.5 billion** at the beginning of the period to **JPY 2,114.9 billion**, primarily driven by profit for the period of **JPY 339.0 billion**, partially offset by dividends paid of **JPY 142.6 billion** and other comprehensive losses[41](index=41&type=chunk) [Consolidated Statement of Cash Flows](index=11&type=section&id=(4)%20Interim%20Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) This section details cash flows from operating, investing, and financing activities for the period, showing strong cash inflows from operations offset by outflows for fixed deposits, equipment purchases, and dividend payments, leading to a net decrease in total cash Consolidated Statement of Cash Flows Summary (For the Nine Months Ended May 31, 2025) | Item | Amount (Million JPY) | | :--- | :--- | | Net Cash from Operating Activities | 427,132 | | Net Cash Used in Investing Activities | (372,330) | | Net Cash Used in Financing Activities | (271,499) | | **Net Decrease in Cash and Cash Equivalents** | **(201,799)** | | Cash and Cash Equivalents at End of Period | 991,761 | [Notes to Financial Statements](index=12&type=section&id=(6)%20Notes%20to%20Interim%20Condensed%20Consolidated%20Financial%20Statements) This section provides supplementary notes to the financial statements, covering key information such as accounting policies, segment information, expense breakdowns, and earnings per share calculations, to aid in understanding the financial report content [Segment Information](index=12&type=section&id=2.%20Segment%20Information) This note details revenue and operating profit for the four business segments (UNIQLO Japan, UNIQLO International, GU, Global Brands) and regional markets, with UNIQLO International being the largest contributor to both revenue and profit Segment Performance (For the Nine Months Ended May 31, 2025) | Reportable Segment | Revenue (Million JPY) | Operating Profit/(Loss) (Million JPY) | | :--- | :--- | :--- | | UNIQLO Japan | 801,422 | 150,601 | | UNIQLO International | 1,457,135 | 240,649 | | GU | 256,287 | 26,333 | | Global Brands | 100,586 | 2,865 | | **Total** | **2,615,432** | **420,450** | Revenue by Region (For the Nine Months Ended May 31, 2025) | Region | Revenue (Million JPY) | Percentage of Total (%) | | :--- | :--- | :--- | | Japan | 801,422 | 30.6 | | Greater China | 510,491 | 19.5 | | South Korea・Southeast Asia・India・Australia | 469,223 | 17.9 | | Europe | 276,492 | 10.6 | | North America | 200,927 | 7.7 | [Selling, General and Administrative Expenses](index=15&type=section&id=4.%20Selling%2C%20General%20and%20Administrative%20Expenses) Total selling, general and administrative expenses for the period were JPY 964.9 billion, an increase from the prior year, with key expense items being salaries, depreciation and amortization, and logistics costs Selling, General and Administrative Expenses Breakdown (For the Nine Months Ended May 31, 2025) | Item | Amount (Million JPY) | | :--- | :--- | | Salaries | 352,149 | | Depreciation and Amortization | 159,702 | | Logistics Costs | 110,827 | | Rent Expenses | 96,745 | | Advertising and Promotion | 85,498 | | Other | 160,062 | | **Total** | **964,986** | [Finance Income and Costs](index=16&type=section&id=6.%20Finance%20Income%20and%20Finance%20Costs) The period recorded net finance income of JPY 69.5 billion, primarily from interest income (JPY 49.2 billion) and non-operating exchange gains (JPY 29.7 billion), while finance costs mainly comprised interest expenses (JPY 9.4 billion) Finance Income and Costs Breakdown (For the Nine Months Ended May 31, 2025) | Item | Amount (Million JPY) | | :--- | :--- | | **Finance Income** | **79,020** | | Of which: Interest Income | 49,289 | | Of which: Exchange Gains | 29,731 | | **Finance Costs** | **(9,467)** | | Of which: Interest Expenses | (9,467) | | **Net Finance Income** | **69,553** | [Earnings Per Share](index=17&type=section&id=7.%20Earnings%20Per%20Share) For the nine months ended May 31, 2025, basic earnings per share were JPY 1,105.36, higher than JPY 1,020.02 in the prior year, with diluted earnings per share at JPY 1,103.68 Earnings Per Share Calculation | Indicator | Nine Months Ended May 31, 2025 | | :--- | :--- | | Profit Attributable to Owners of Parent for the Period (Million JPY) | 339,099 | | Weighted Average Number of Ordinary Shares for the Period (Shares) | 306,778,343 | | **Basic Earnings Per Share (JPY)** | **1,105.36** | | **Diluted Earnings Per Share (JPY)** | **1,103.68** | [Review Report and Other Information](index=18&type=section&id=Review%20Report%20and%20Other%20Information) [Review Report on Interim Condensed Consolidated Financial Statements](index=18&type=section&id=3.%20Review%20Report%20on%20Interim%20Condensed%20Consolidated%20Financial%20Statements) Independent auditor Deloitte Touche Tohmatsu LLC has reviewed these interim condensed consolidated financial statements, and based on the review, the auditor found no matters leading them to believe the financial statements are not prepared in all material respects in accordance with relevant accounting standards - Auditor's conclusion: We have not identified any matters that lead us to believe the interim condensed consolidated financial statements are not prepared in all material respects in accordance with Article 5-2 of the Tokyo Stock Exchange Quarterly Financial Statements Standards[70](index=70&type=chunk) - The scope of the review is significantly narrower than an audit conducted in accordance with generally accepted auditing standards in Japan, primarily involving inquiries with financial personnel and analytical procedures[74](index=74&type=chunk) [Resumption of Trading](index=20&type=section&id=4.%20Resumption%20of%20Trading) The company has applied for the resumption of trading of its Hong Kong Depositary Receipts on the Stock Exchange from 9:00 AM on July 11, 2025 - At the company's request, its Hong Kong Depositary Receipts were temporarily suspended from trading from 1:00 PM on July 10, 2025, pending the release of this earnings announcement, and will resume trading from 9:00 AM on July 11, 2025[79](index=79&type=chunk)

Core Viewpoint - The CFO of Fast Retailing has indicated that the North American business will be significantly impacted by tariffs, particularly from fall to winter in the United States [1] Group 1 - The company anticipates a substantial effect on its operations in North America due to upcoming tariffs [1] - The expected impact is specifically highlighted for the period from autumn to winter [1]