全域增长破纪录 2025财年，优衣库综合收益总额达到34005亿日元，较上一财年增长9.6%，这一规模在全球服饰零售行 业中持续保持领先地位。作为衡量核心盈利能力的关键指标，事业溢利总额同比增长13.6%至5511亿日 元，母公司拥有人应占溢利以16.4%的增速攀升至4330亿日元，盈利增速显著高于收入增长。 截至2025财年末，优衣库库存周转天数降至118天，较2023财年减少10天，库存压力的缓解不仅降低了 资金占用成本，也提升了新品上市的周转效率，形成良性循环。 从各业务板块看，优衣库仍是迅销集团的绝对主力。2025财年，优衣库品牌实现收益2.9万亿日元，贡 献营收约86.4%。其次是GU（极优）和全球品牌。期内GU收益3307.0亿日元，占比9.7%；全球品牌实 现收益1315.4亿日元，占比3.9%。 从行业维度看，迅销优衣库的业绩表现印证了功能性服饰赛道的增长潜力。2025财年，优衣库凭借 HEATTECH、AIRism等核心功能性产品系列的稳定销售，在全球服装市场中巩固了1.4%的份额，位列 行业第三。相较于竞争对手，优衣库通过持续的面料研发与数据化运营，在性价比与品牌力之间找到了 精准平衡，这 ...

Group 1 - The Japanese consumer sector, including both essential and discretionary consumption, accounts for over 20% of the Nikkei 225 index, with four of the top ten companies being consumer firms (Toyota, Sony, Fast Retailing, and Nintendo) [1] - The article focuses on the core assets of major global stock markets, specifically analyzing the Japanese consumer sector [2] - Japan's offline retail innovation has thrived despite the global shift towards e-commerce, with a rich variety of retail formats emerging post-1990s, including convenience stores, dollar stores, hard discount stores, second-hand shops, and specialty chains [3][4] Group 2 - The success of Japan's offline retail is attributed to unique consumer culture characteristics and the traits of Japanese companies [5] - The history of retail innovation in Japan began in the 1970s, shifting from American-led changes to Japanese-led transformations, with convenience stores being a significant innovation [6][7][8] - Convenience stores in Japan are tailored to local consumer needs, emphasizing product availability, service quality, and operational efficiency [9][10][12] Group 3 - The emergence of specialized chains and discount stores has further diversified the retail landscape, with examples like drugstores and hard discount stores gaining popularity [13][14] - The SPA (Specialty store retailer of Private label Apparel) model, exemplified by Uniqlo, integrates product planning, manufacturing, and retailing, allowing for rapid market response and inventory control [19][20][21] - Uniqlo's operational efficiency is highlighted by its low markup and high net profit margin, achieved through streamlined processes and a focus on quality [25][31] Group 4 - Japanese consumer companies, including Uniqlo, exhibit characteristics such as craftsmanship, long-termism, and a strong organizational culture [33][34] - The emphasis on detail and quality in product development reflects the Japanese "craftsmanship spirit," which is evident in Uniqlo's approach to basic clothing items [35][36][37] - The organizational culture in Japanese firms promotes consistency and vertical management, ensuring that company philosophy permeates all levels of operation [39][40][41] Group 5 - The Japanese consumer market is characterized by a rational and individualistic consumption attitude, with second-hand stores becoming a cultural phenomenon rather than merely a budget option [46][47] - The evolution of consumer attitudes over decades reflects a shift towards lower ownership desires, particularly among younger generations [48][49][51] - Japanese consumer brands, shaped by cultural values, focus on long-term value accumulation through repeat purchases and word-of-mouth marketing [54]