FAST RE-DRS-NEW(06288) - 2025 Q2 - 季度业绩

Consolidated Results Overview Financial Summary 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 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] - 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] UNIQLO Japan 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] UNIQLO International 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] 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] Global Brands 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] 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] - 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] - 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] - 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] Financial Position and Cash Flow Information 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] 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 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] Interim Condensed Consolidated Financial Statements Consolidated Statement of Financial Position 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 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] Consolidated Statement of Changes in Equity 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] Consolidated Statement of Cash Flows 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 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 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 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 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 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 Review Report on Interim Condensed Consolidated Financial Statements 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] - 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] Resumption of Trading 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]