近日，有消费者在网上留言称优衣库的衣服不好退货了，原来线上下单门店退货的方式将在5月1日被取消，只能在线上付费寄回指定地址。 4月21日，南都·湾财社记者也与优衣库深圳一门店确认，相关工作人员表示公司确实出了新规定，自5月起所有线上下单的衣服无法拿到优衣库线下门店退 货，只能寄回指定地址办理退货，至于是否需要额外支付运费则需要关注下单时产品是否包含有运费险。至于新规原因，店员表示并不清楚，之前确实会有 顾客带大行李箱来门店退换。 就新规变动原因，南都·湾财社也联系了优衣库相关负责人。截至发稿前，暂未收到优衣库方面的回复。 退货新规惹争议 线上下单的衣服无法线下退货，消费者给出了不同声音。 比如黄女士就表示，这样的退货更加智能与简化，线上线下更统一方便管理，"跟大家现在正常网购一样"。 但也有不少消费者不理解，认为明明优衣库有线上线下两个渠道，可同时供消费者做退货选择，如今变成哪里买的就得从哪里退，限制变多。再者，也有诸 如蒲女士这样的消费者提出担心，认为线上线下完全区隔，会否存在两个不同渠道的商品，其质量会有不同。 其中优衣库品牌收入在迅销集团总收入占比86.9%。东南亚、印度、澳洲、北美和欧洲都在高速增长， ...

Core Viewpoint - Uniqlo has achieved its best performance in history, with strong growth in regions like Southeast Asia, India, Australia, North America, and Europe, while the Chinese market is experiencing a slowdown [3][4]. Financial Performance - Fast Retailing, Uniqlo's parent company, reported a total revenue of 1,790.1 billion yen (approximately 91.3 billion RMB) for the first half of the 2024-2025 fiscal year, a year-on-year increase of 12%. Net profit reached 233.5 billion yen (approximately 11.9 billion RMB), up 19.2% [3][4]. - Revenue in the Greater China region declined by approximately 3% to 361.7 billion yen, with profits down about 9%. Specifically, revenue in mainland China fell by 4%, and profits decreased by 11% [4][10]. Market Strategy and Consumer Behavior - Uniqlo has ended its decade-long "honeymoon" period in China, shifting focus from market expansion to market penetration as consumer preferences evolve towards affordable alternatives [4][8]. - The younger generation in China is increasingly opting for cheaper substitutes, leading to a shift in brand loyalty. Uniqlo faces competition from lower-priced brands that directly market themselves as alternatives to Uniqlo [4][7]. Competitive Positioning - Despite the challenges, Uniqlo's brand fundamentals remain intact, as it continues to offer high-quality, basic apparel that meets market demands. The brand's relative competitiveness is reportedly increasing as consumer sentiment shifts [7][8]. - Uniqlo has maintained its position as one of the top five brands in the women's clothing market in mainland China from 2018 to 2022 [7]. Store Strategy - Uniqlo is adjusting its store strategy by closing smaller, underperforming stores and focusing on larger flagship locations to enhance profitability [9][16]. - The company has increased its store count in Greater China to 1,031, surpassing Japan's 787 stores, but revenue per store in China remains lower than in Japan [10][12]. E-commerce Integration - Uniqlo's e-commerce strategy is performing well, with online sales accounting for 20% of its revenue in China, higher than Japan's 15%. The "store-warehouse integration" strategy is enhancing overall performance [21][22]. - The company has seen significant success during major sales events, ranking first in clothing sales on platforms like Tmall during events like 618 and Double 11 [26]. Supply Chain and Production - Uniqlo relies heavily on Chinese factories, with 269 suppliers in China compared to only 75 in Vietnam and 32 in Bangladesh. The efficiency of Chinese manufacturing remains crucial for Uniqlo's operations [29][30]. Future Outlook - Uniqlo aims to achieve a sales target of 1 trillion yen by 2028, with the Chinese market being a core battleground despite current challenges [30].

Core Insights - Fast Retailing, the parent company of UNIQLO, reported a 12% year-on-year revenue increase to 1,790.1 billion yen (approximately 90.9 billion RMB) for the first half of the fiscal year ending February 28, 2025, with a gross margin of 53.3% and a net profit increase of 19.2% to 233.6 billion yen (approximately 11.868 billion RMB) [1][3]. Group 1: Performance by Region - The Japan segment saw an 11.6% revenue increase to 541.5 billion yen (approximately 27.5 billion RMB), with operating profit rising 26.4% to 97.6 billion yen (approximately 4.9 billion RMB) and same-store sales increasing by 9.8% [3]. - The overseas segment experienced a 14.7% revenue increase to 1,014.1 billion yen (approximately 51.5 billion RMB), with operating profit growing 11.7% to 168.5 billion yen (approximately 8.5 billion RMB) [3]. Group 2: Performance in Greater China - In the Greater China region, revenue in mainland China decreased by approximately 4% year-on-year, with operating profit declining by about 11%, attributed to low consumer sentiment and significant temperature variations affecting product demand [5]. - The Hong Kong market recorded a decline in revenue and a significant drop in profit, while Taiwan saw increases in both revenue and profit [5]. - South Korea reported growth in both revenue and profit, while Southeast Asia, India, and Australia experienced substantial increases in both metrics [5]. Group 3: Other Business Segments - The GU segment reported a revenue increase of 3.9% to 165.8 billion yen (approximately 8.4 billion RMB) [5]. - The global brand segment, including Theory, recorded revenue of 67.7 billion yen (approximately 3.4 billion RMB), a year-on-year decrease of 2.3%, but achieved profitability with an operating profit of 0.9 billion yen (approximately 45.73 million RMB) [5].

Financial Performance - Total revenue for the first half of the fiscal year 2025 reached ¥1,790.198 billion, representing a 12.0% increase year-over-year[8] - Operating profit for the same period was ¥304.217 billion, an 18.3% increase compared to the previous year[8] - Pre-tax profit increased by 21.5% to ¥363.724 billion, with net profit attributable to shareholders rising 19.2% to ¥233.566 billion[8] - Gross profit margin improved by 0.4 percentage points to 53.3%, while selling, general, and administrative expenses as a percentage of revenue decreased by 0.7 percentage points to 36.5%[8] - Same-store sales, including online stores, grew by 9.8% due to strong performance in seasonal products and increased purchases from inbound travelers[10] - UNIQLO's revenue accounted for 86.9% of total revenue, amounting to ¥1,555,701 million, while GU contributed ¥165,844 million, representing 9.3%[73] - Basic earnings per share improved from ¥638.79 to ¥761.38, indicating an increase of approximately 19%[48] Segment Performance - The Japanese UNIQLO segment reported revenue of ¥541.5 billion, an 11.6% increase, and operating profit of ¥97.6 billion, a 26.4% increase[10] - Overseas UNIQLO revenue for the first half of the fiscal year reached ¥1,014.1 billion, a year-on-year increase of 14.7%, with operating profit totaling ¥168.5 billion, up 11.7%[11] - The Greater China region saw a revenue decline of approximately 4% and an operating profit decrease of about 11% due to low consumer sentiment and mismatched product offerings[11] - Southeast Asia, India, and Australia recorded significant revenue and operating profit growth, driven by strong sales of summer and winter products[11] - GU's revenue for the first half of the fiscal year was ¥165.8 billion, a year-on-year increase of 3.9%, but operating profit decreased by 9.3% to ¥13.9 billion due to increased costs from flagship store openings and advertising[13] - The global brand segment reported revenue of ¥67.7 billion, a decrease of 2.3%, but achieved an operating profit of ¥0.9 billion, compared to a loss of ¥1.7 billion in the previous year[14] Sustainability Initiatives - The company continues to focus on sustainable development and the "LifeWear" concept in its production activities[9] - The company aims to reduce greenhouse gas emissions from stores and major offices by 90% by August 2030 compared to August 2019 levels[18] - As of August 2024, the company has reduced its greenhouse gas emissions by 83.3% compared to August 2019, with supply chain emissions down by 18.6%[18] - The introduction of the "RE.UNIQLO" initiative aims to promote a circular economy through clothing repair and customization services, expanding to 57 stores across 22 countries by February 2025[15] - The company has achieved an 84.7% adoption rate of renewable energy within its operations, up from 67.6% in the previous year[18] Cash Flow and Assets - The net cash generated from operating activities was ¥298.228 billion, while cash used in investing activities was ¥382.127 billion[5] - The total assets increased to ¥3,729.143 billion, with equity attributable to shareholders rising to ¥2,196.302 billion[5] - Operating cash flow for the six months ended February 28, 2025, generated a net cash of ¥2,982 billion, down from ¥3,223 billion in the same period last year[22] - Investment cash flow for the same period resulted in a net cash usage of ¥3,821 billion, significantly higher than ¥541 million in the previous year[23] - Financing cash flow for the six months ended February 28, 2025, showed a net cash usage of ¥1,502 billion, compared to ¥1,314 billion in the same period last year[24] Shareholder Information - The total number of issued shares as of February 28, 2025, was 318,220,968 shares[31] - The company has established a stock option plan allowing employees to purchase a total of 14,931 shares at an exercise price of ¥50,183[32] - The Master Trust Bank of Japan, Ltd. holds 62,559 thousand shares, representing 20.39% of the total issued shares[37] - The company holds 11,430,496 treasury shares, accounting for 3.59% of the total issued shares[43] - The total number of shares held by the top ten shareholders amounts to 236,390 thousand shares, which is 77.05% of the total issued shares[37] Financial Statements and Auditing - The financial statements have been prepared in accordance with international accounting standards and relevant financial regulations[45] - Deloitte Touche Tohmatsu LLC has reviewed the interim consolidated financial statements for the six-month period ending February 28, 2025[46] - Management is responsible for preparing the interim condensed consolidated financial statements in accordance with International Accounting Standard 34, ensuring fair representation and internal controls to prevent material misstatements due to fraud or error[93] - The auditor's responsibility includes reviewing the interim condensed consolidated financial statements and ensuring compliance with relevant auditing standards, with a focus on significant uncertainties that may affect the group's ability to continue as a going concern[95] - The overall presentation, structure, and content of the interim condensed consolidated financial statements must comply with International Accounting Standard 34, ensuring that disclosures are adequate and reflect relevant transactions and events[98]

Financial Performance - For the six months ended February 28, 2025, total revenue reached ¥1,790,198 million, representing a 12.0% increase year-over-year[5] - Operating profit for the same period was ¥304,217 million, reflecting an 18.3% year-over-year growth[5] - Profit before tax increased by 21.5% to ¥363,724 million, while net profit attributable to shareholders rose by 19.2% to ¥233,566 million[5] - UNIQLO Japan's revenue for the first half of the fiscal year reached ¥541.5 billion, a year-on-year increase of 11.6%, with operating profit totaling ¥97.6 billion, up 26.4%[14] - UNIQLO overseas revenue for the first half of the fiscal year was ¥1,014.1 billion, reflecting a 14.7% year-on-year growth, while operating profit was ¥168.5 billion, an increase of 11.7%[15] - The company forecasts total revenue for the fiscal year ending August 31, 2025, to be ¥3,400,000 million, with an expected operating profit of ¥545,000 million, indicating a 9.5% and 8.8% increase, respectively[8] - The net profit attributable to shareholders for the fiscal year ending August 31, 2025, is projected to be ¥410,000 million, a 10.2% increase[8] Assets and Liabilities - The total assets as of February 28, 2025, amounted to ¥3,729,143 million, with total equity of ¥2,258,711 million, resulting in an equity ratio of 58.9%[6] - As of February 28, 2025, total assets amounted to ¥3,729.1 billion, an increase of ¥141.5 billion from the previous fiscal year-end[25] - Total liabilities as of February 28, 2025, were ¥1,470.4 billion, a decrease of ¥48.8 billion compared to the previous fiscal year-end[25] - Total equity increased to ¥2,258.7 billion as of February 28, 2025, up by ¥190.4 billion from the previous fiscal year-end[26] Sustainability Initiatives - The group aims to reduce greenhouse gas emissions from stores and major offices by 90% by August 2030 compared to August 2019 levels, with a current reduction of 83.3% achieved[22] - The introduction of renewable energy within the group has reached 84.7%, up from 67.6% in the previous year, highlighting the commitment to sustainability[22] - The company plans to invest in human capital and sustainable business practices, aligning with its vision of becoming a "global first brand" trusted by customers[13] - The company will continue to promote its "LifeWear" concept, emphasizing quality, sustainability, and recyclability in its clothing production[13] - The group has expanded its "RE.UNIQLO" initiative, providing repair and customization services in 57 stores across 22 countries and regions by February 2025[20] Market Performance - Same-store sales in Japan increased by 9.8%, driven by strong performance in seasonal and warm clothing products, as well as purchases from inbound travelers[14] - In the Greater China region, revenue decreased by approximately 4% year-on-year, with operating profit declining by about 11%, attributed to low consumer sentiment and temperature discrepancies across regions[16] - UNIQLO's same-store sales in North America and Europe saw significant growth, supported by strong sales of winter products and successful new store openings[16] - GU's revenue for the first half of the fiscal year was ¥165.8 billion, a 3.9% year-on-year increase, but operating profit fell by 9.3% to ¥13.9 billion due to insufficient hot-selling items and increased advertising costs[18] - The global brand segment reported revenue of ¥67.7 billion, a decrease of 2.3%, but operating profit turned positive at ¥0.9 billion compared to a loss of ¥1.7 billion in the previous year[19] Cash Flow and Investments - Operating cash flow for the six months ended February 28, 2025, generated a net cash of ¥298.2 billion, compared to ¥322.3 billion for the same period last year[28] - Investment cash flow for the six months ended February 28, 2025, used a net cash of ¥382.1 billion, significantly higher than ¥5.41 billion for the same period last year[29] - Financing cash flow for the six months ended February 28, 2025, used a net cash of ¥150.2 billion, compared to ¥131.4 billion for the same period last year[30] - The company’s cash flow statement indicates a healthy cash flow position, supporting ongoing operations and potential investments in new technologies[42] Future Outlook - The company plans to enhance its global brand presence and diversify revenue streams, particularly focusing on the overseas UNIQLO business segment[13] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[41] - The company plans to continue expanding its market presence in Greater China and Southeast Asia, focusing on enhancing brand visibility and customer engagement[57] - The company is actively investing in new product development and technology to drive future growth and improve operational efficiency[57]

Core Viewpoint - Uniqlo's strategy in Europe is shifting towards local cultural integration, contrasting with its previous approach in China, where it focused on transplanting Japanese style. The company aims to establish a strong presence in the European market after experiencing a slowdown in growth in China [4][5]. Group 1: Market Strategy - Uniqlo is collaborating with local artists in Europe to create a positive brand image and is opening flagship stores in prime locations to gain respect from local consumers [4][8]. - The company has significantly increased its investment in the European and North American markets, with overseas operations contributing approximately 20% to Fast Retailing's revenue, a figure that continues to grow [4][8]. - Uniqlo's previous attempts to enter the European market were met with challenges, including management issues and a lack of consumer acceptance, leading to a strategic retreat and a more cautious approach in recent years [9][10]. Group 2: Financial Performance - The latest financial reports indicate that overseas business, particularly in Europe and North America, has driven growth for Uniqlo, with expectations of a 76% increase in capital investment for overseas operations by the fiscal year 2025 [8][11]. - E-commerce has become a significant revenue driver for Uniqlo in Europe, with its share of total sales increasing from 20% in fiscal year 2019 to 30% in fiscal year 2021, aided by a shift in consumer behavior during the pandemic [11][12]. Group 3: Competitive Landscape - Uniqlo faces competition from local fast-fashion brands in Europe and North America, where consumer preferences vary significantly. The brand is perceived as a more durable alternative to competitors like H&M and Zara, with lower price points for essential items [10][12]. - The company is also expanding its physical presence in the U.S., with plans to open 200 stores by 2027, leveraging e-commerce data to identify optimal locations [15][18]. Group 4: Challenges and Risks - Uniqlo's reliance on Chinese manufacturing poses risks, especially with potential tariff increases and geopolitical tensions affecting supply chains. The company has a significant number of its production facilities in China, which could impact pricing strategies if tariffs rise [18][19]. - The brand's commitment to maintaining its manufacturing base in China, despite rising costs and geopolitical pressures, reflects a long-term strategy that may face challenges as it expands in Western markets [18][19].

Uniqlo parent company Fast Retailing and 7-Eleven operator Seven & i Holdings are expected to say they have been facing headwinds when they report their latest earnings next week, Bloomberg reported Thursday (Jan. 2).Bloomberg said this while reporting analysts’ forecasts for these and other companies that are set to launch the earnings season in Asia next week.Fast Retailing may report a softening in operating profit growth because of sales of winter clothing being dampened by warmer autumn-winter weather ...

Financial Performance - Total revenue for the fiscal year 2023/24 is projected to reach ¥3,103,836 million, representing a 12.2% increase from ¥2,766,557 million in the previous year[5]. - Operating profit is expected to grow to ¥500,904 million, up 31.7% from ¥381,090 million in the prior year[5]. - Profit attributable to owners of the parent is forecasted at ¥371,999 million, a 25.6% increase compared to ¥296,229 million in the last fiscal year[5]. - Operating income for the fiscal year ending August 31, 2024, is projected to be ¥438,206 million, representing a 33.5% increase from ¥327,932 million in the previous year[7]. - Net income for the fiscal year ending August 31, 2024, is expected to reach ¥306,135 million, up from ¥209,145 million, indicating a growth of 46.5%[7]. - Consolidated operating profit amounted to ¥500.9 billion, a significant year-over-year growth of 31.4%, achieving the highest performance level in history[118]. - The net income before tax for the group was ¥557.2 billion, reflecting a 27.2% increase compared to the previous year[118]. Assets and Cash Flow - The total assets are anticipated to rise to ¥3,587,565 million, reflecting an increase of 8.6% from ¥3,303,694 million[5]. - The cash and cash equivalents at year-end are projected to be ¥1,193,560 million, an increase from ¥903,280 million last year[5]. - The net cash generated from operating activities is projected to be ¥651,521 million, a significant increase from ¥463,216 million in the previous year[5]. - As of August 31, 2024, cash and cash equivalents amounted to ¥1,193.5 billion, an increase of ¥290.2 billion from the previous fiscal year-end[132]. - Operating cash flow for the year ending August 31, 2024, was ¥651.5 billion, up from ¥463.2 billion in the previous year, driven by a pre-tax profit of ¥557.2 billion[132]. Employee and Workforce - The company has reported an increase in the number of employees to 60,454, up from 59,871 in the previous year[5]. - The number of employees is projected to decrease to 1,601 in the fiscal year ending August 31, 2024, down from 1,707[7]. - The total number of employees across all divisions reached 60,454, an increase from 52,145 in the previous year[30]. - The average salary for employees in the company was 11,792 thousand yen[31]. - The employment rate of disabled individuals in Japan reached 4.91% in 2024, exceeding the legal requirement of 2.5%[88]. - The employee engagement survey for 2024 resulted in a composite index of 74.7%, with a response rate of 89% from 34,556 out of 38,770 surveyed employees[106][107]. Market Expansion and Strategy - The company aims to enhance its market presence through new product development and strategic expansions[5]. - UNIQLO opened its first store in Luxembourg in October 2023[15]. - The company established a global flagship store in Beijing, China in November 2021[15]. - UNIQLO launched a new roadside store in Maebashi, Japan in April 2023[15]. - Fast Retailing plans to open approximately 150 new UNIQLO stores overseas with a capital investment of ¥101,200 million for the fiscal year 2025[159]. - The company aims to open around 30 new UNIQLO stores in Japan with a capital investment of ¥8,100 million for the fiscal year 2025[159]. Sustainability and Environmental Initiatives - The company is pursuing a sustainable business model that includes reducing greenhouse gas emissions and promoting recycling and reuse by the fiscal year ending August 2030[43]. - The company aims to reduce greenhouse gas emissions by 90% by 2030 compared to 2019 levels[64]. - As of August 2023, the company's greenhouse gas emissions have decreased by 69.4% compared to August 2019, with renewable energy usage at 67.6%[64]. - The company has set specific goals and KPIs for reducing greenhouse gas emissions and waste, using recycled materials, and ensuring traceability in its supply chain management[58]. - The company has initiated the "RE.UNIQLO" program to promote a circular economy through initiatives like clothing repair, donation, and recycling[62]. - UNIQLO's RE.UNIQLO initiative aims to promote a circular economy through activities such as REDUCE, REUSE, and RECYCLE, with plans to expand repair services to over 60 stores by December 2024[73]. Financial Strategy and Investments - The company aims to achieve revenue of 3 trillion yen by the end of the fiscal year ending August 2024, with significant growth in customer base in Europe and the United States[40]. - The mid-term target is to reach 5 trillion yen in revenue by the end of the fiscal year ending August 2028, focusing on achieving a double-digit annual growth rate[41]. - The total capital investment for the year was ¥112.1 billion, an increase of ¥10 billion from the previous year, including ¥57.6 billion for overseas UNIQLO operations[118]. - The financial strategy focuses on maximizing free cash flow while maintaining a stable financial condition and ensuring necessary growth investment funds[144]. - The company has raised ¥500 billion through corporate bond financing to diversify funding sources and enhance capital efficiency[144]. Risk Management - The company has established a risk management committee to identify and manage potential business risks[63]. - The group has identified significant risks that could severely impact its operational performance and financial condition, including management personnel risks and environmental risks[112]. - The risk management committee is chaired by the group's CFO and is responsible for centralized management of risks across the company[110]. - The group is committed to reducing greenhouse gas emissions and improving energy efficiency as part of its climate change response strategy[113]. Corporate Governance and Shareholder Information - The company has a stock option plan for its employees, with various tranches of stock options issued over the years[166]. - The total number of issued shares as of November 29, 2024, is 318,220,968[162]. - Major shareholders include The Master Trust Bank of Japan, Ltd. with 66,701 thousand shares (21.75%) and Custody Bank of Japan, Ltd. with 32,446 thousand shares (10.58%) as of August 31, 2024[200]. - The company has a policy that if a stock option holder waives their right to purchase shares, the options will become invalid[171].

Store Operations - As of August 31, 2023, the total number of stores for UNIQLO in Japan was 797, with 37 new openings and 40 closures planned for the next year[3]. - The total number of overseas UNIQLO stores reached 1,698, with 144 new openings and 80 closures expected[3]. - The company plans to open 265 new stores globally while closing 248, resulting in a net increase of 10 stores[3]. - The total number of stores for GU was 472, with 38 new openings and 29 closures planned[3]. Employee Information - The total employee count as of August 31, 2024, was 60,454, reflecting an increase of 583 employees compared to the previous fiscal year[4]. - The average age of employees is 38 years and 6 months, with an average tenure of 5 years and 5 months[6]. - The number of employees in overseas UNIQLO increased by 1,134 to a total of 36,800[4]. Shareholder Information - The total issued shares amounted to 318,220,968, with the top shareholder, The Master Trust Bank of Japan, holding 21.75%[7]. - The company reported a total of 19,779 shareholders as of August 31, 2024[7]. Financial Performance - The total comprehensive income for the year ended August 31, 2024, was ¥371,999 million[41]. - The retained earnings as of August 31, 2024, increased to ¥1,766,073 million from ¥1,498,348 million[41]. - The company declared dividends amounting to ¥104,274 million[41]. - The capital surplus increased to ¥29,712 million as of August 31, 2024, from ¥28,531 million[41]. - The company reported a total equity of 2,068,254 million JPY as of August 31, 2024, reflecting a year-on-year increase[42]. - The company reported a decrease in net assets of 68,533 million JPY during the year[42]. - The company’s equity increased from ¥1,005,644 million to ¥1,208,817 million, reflecting a growth of about 20.2%[104]. Corporate Governance - The company maintains a focus on corporate governance by ensuring independent oversight through its board and committees[8]. - The independent auditor's remuneration for the fiscal year ending August 31, 2024, is set at 299 million yen, with total cash and other economic benefits amounting to 343 million yen[10]. - The independent auditor, Deloitte Touche Tohmatsu LLC, was selected based on established evaluation and selection criteria, ensuring quality management and independence[13]. - The company emphasizes a corporate governance policy aimed at becoming a globally trusted brand, with over half of the board seats held by external directors to enhance independence and oversight[19]. - The company has established various committees, including a sustainability committee and a risk management committee, to address stakeholder expectations and enhance decision-making processes[19]. Risk Management - The company conducts regular risk analyses to identify potential financial losses and business interruptions, implementing measures to mitigate these risks[23]. - The Risk Management Committee held a total of 4 meetings in 2024 to address potential business risks[38]. Financial Assets and Liabilities - The company’s financial assets are measured at fair value through profit or loss or at amortized cost, depending on their classification[46]. - The company has implemented a credit loss provision for financial assets measured at amortized cost, assessing credit risk at each reporting date[48]. - The company maintains control over transferred financial assets, recognizing them and related liabilities if it retains significant risks and rewards[49]. - The fair value of financial assets totals 514,459 million yen, while the fair value of financial liabilities is 234,727 million yen[95][96]. Revenue Recognition - The group applies IFRS 15 for revenue recognition, confirming revenue upon delivery of clothing products when control is transferred to customers[64]. - Total revenue reached 3,103,836 million yen, with UNIQLO contributing 85.2% of total revenue at 2,644,060 million yen[74]. Audit and Compliance - The audit report confirms that the business report and supplementary schedules adequately present the company's situation according to applicable laws and regulations[131]. - The independent auditor has confirmed the appropriateness of the internal control system as per the board's resolutions[131]. - The company is responsible for preparing and fairly presenting financial statements in accordance with Japanese GAAP, ensuring no significant misstatements due to fraud or error[125]. Dividends - The company approved a dividend of 50,600 million yen, with a per-share dividend of 165 yen for the fiscal year ending August 31, 2023[85]. - The company plans to pay a dividend of 53,674 million yen, with a per-share dividend of 175 yen for the fiscal year ending August 31, 2024[86]. - The total dividend amount for 2024 is 69,016 million yen, with a per share dividend of 225 yen[87].

Financial Performance - Fast Retailing's total revenue has increased nearly 100 times since its IPO, with the fiscal year 2024 expected to surpass 3 trillion yen for the first time[2]. - The consolidated revenue for the fiscal year ending August 2024 reached ¥3,103.8 billion, an increase of 12.2% year-over-year, marking the first time revenue surpassed ¥3 trillion[66]. - Operating profit for the same period was ¥500.9 billion, reflecting a significant year-over-year growth of 31.4%, achieving a historical high[66]. - Profit before tax increased to ¥557.2 billion, up 27.2% compared to the previous year, while net profit attributable to shareholders rose by 25.6% to ¥371.9 billion[66]. - The board proposed a year-end dividend of ¥400 per share, reflecting the company's strong financial performance[74]. - The total assets as of August 31, 2024, are projected to be ¥3,587.5 billion, an increase of ¥283.8 billion from the previous fiscal year[124]. - The net assets are expected to reach ¥2,068.2 billion by the end of August 2024, an increase of ¥194.8 billion compared to the previous year[124]. - The company aims to achieve a revenue target of ¥10 trillion, driven by the cultivation of local talent and management in overseas markets[113]. Human Resources and Management - The company emphasizes the importance of investing in human resources, focusing on developing managerial talent and essential store staff[2]. - Fast Retailing has established a training system to ensure employees understand the company's philosophy and values, promoting continuous growth[2]. - The company plans to continue investing significantly in human resource development to ensure future growth[2]. - The company aims to foster a culture of "full participation management" by empowering employees to identify and solve problems collaboratively[2]. - The company recognizes the importance of diverse backgrounds among employees to drive significant growth opportunities[32]. - The company is committed to strengthening human capital investment and nurturing management talent to enhance operational capabilities[131]. Sustainability and Social Responsibility - The company is committed to sustainable management practices to contribute to societal progress and aims for long-term growth[2]. - The company aims to achieve a 90% reduction in greenhouse gas emissions from self-operated stores and offices by fiscal year 2030, compared to 2019 levels[97]. - The company has set a goal of achieving zero greenhouse gas emissions by 2050[97]. - The company has been recognized for its transparency and leadership in climate change response, being included in the CDP's highest rating "A List" for two consecutive years[95]. - The group aims to foster international awareness among children through participation in humanitarian projects, enhancing their understanding of refugee issues[102]. - The company is committed to improving labor conditions and respecting human rights throughout its supply chain[101]. Corporate Governance - The upcoming shareholder meeting will address the approval of changes to the company's articles of incorporation and the election of 10 directors and 2 statutory auditors[4]. - The board candidates possess extensive experience in corporate management, global business, and sustainable development, with specific expertise in IT, logistics, finance, and accounting[9]. - The board has maintained a 100% attendance rate for all meetings, indicating strong commitment and engagement from its members[11]. - The company emphasizes the importance of independent directors providing accurate insights based on their extensive knowledge and experience in the market[17]. - The company has established limited liability contracts with external directors to ensure they can fulfill their responsibilities, with a damage compensation limit set at 5 million yen or the higher amount stipulated by law[54]. - The company has a liability insurance contract for executives, which will cover damages arising from claims related to their duties, and this contract is renewed annually[58]. - The company has established a clear standard for assessing the independence of external directors based on Tokyo Stock Exchange regulations[55]. Global Expansion and Market Strategy - The company aims to enhance its global business and social responsibility while promoting the mission of making the world better through the apparel industry[13]. - The company is accelerating the global expansion of UNIQLO and GU stores, leveraging the experience of external board candidates to enhance store opening strategies and logistics[20]. - UNIQLO plans to open at least 20 new stores in Europe, North America, and Asia in the fall of 2024, aiming to enhance local customer engagement[83]. - The company plans to enhance its global brand presence, particularly in North America and Europe, by expanding same-store sales and online sales while opening flagship and large stores[136]. - The company is focused on enhancing its operational capabilities across various countries, aiming to establish a leading global framework in product, online store, and customer service areas[138]. Digitalization and IT Investment - The company is focused on leveraging digitalization and IT to improve operational efficiency and customer experience[9]. - The group is investing efficiently in IT to transform into a "digital retail enterprise," aiming to convert data analysis into business intelligence[24]. - The company is focusing on increasing its IT talent pool to establish a framework that supports achieving its next stage goals[24]. - The external board candidates bring extensive knowledge and experience from their previous roles, which is deemed valuable for the company's IT, digitalization, and ESG initiatives[23]. Community Engagement and Initiatives - In the 2024 fiscal year, approximately 68,000 students participated in the "Power of Clothing" project across 733 schools in Japan[103]. - The "UNIQLO Next Generation Development Program" involves global sports ambassadors to promote youth development through sports[106]. - The group emphasizes the importance of cultivating future leaders by engaging with top athletes who embody values of honesty and perseverance[108]. - The company aims to expand its "PEACE FOR ALL" charity T-shirt project, donating approximately 20% of each T-shirt's sale price to international activities[169].