January 12, 2023
Fast Retailing Results for
September to November 2022
and Estimates for FY2023
Takeshi Okazaki
Fast Retailing Co., Ltd.
Group Senior Executive Officer & CFO
1
Contents
Ⅰ .Results Sep.-Nov. 2022 (1Q) Ⅱ.Estimates for Fiscal 2023 Ⅲ.Reference
P 3 ~ P21 P22 ~ P26 P27 ~ P29
Disclosure of Corporate Performance | ||
Following the Group's adoption of International Financial Reporting Standards (IFRS) from the year ending August 31, 2014, all data in this document are | ||
calculated using IFRS standards. | ||
Business profit = Revenue - (Cost of sales + SG&A expenses) | ||
Group Operations: | ||
UNIQLO Japan: | UNIQLO Japan operations | |
UNIQLO International: | All UNIQLO operations outside of Japan | |
GU: | All GU operations inside and outside Japan | |
Global Brands: | Theory, PLST, Comptoir des Cotonniers, Princesse tam.tam | |
Consolidated results also include Fast Retailing Co., Ltd. performance and consolidated adjustments. | ||
From the first quarter of fiscal 2023, performance from the Royalties Division, which used to be displayed under the UNIQLO Japan reportable segment, will be included | ||
under Adjustments as companywide income/expenses. | ||
A Note on Business Forecasts | ||
When compiling business estimates, plans and target figures in this document, the figures that are not historical facts are forward looking statements based on | ||
management's judgment in light of currently available information. These business forecasts, plans and target figures may vary materially from the actual business | ||
results depending on the economic environment, our response to market demand and price competition, and changes in exchange rates. | 2 | |
Group: FY2023 1Q Results
Large rise in revenue, slight contraction in profit
unit : billion of yen
Yr to Aug. 2022 | Yr to Aug. 2023 | |
(3 mths to Nov. 2021) | (3 mths to Nov. 2022) | y/y |
Actual | Actual | |
Revenue
(to revenue)
Gross profit
(to revenue)
SG&A
(to revenue)
Business profit
(to revenue)
Other income, expenses
(to revenue)
Operating profit
(to revenue)
Finance income, costs
(to revenue)
Profit before income taxes
(to revenue)
Profit attributable to owners of the parent
(to revenue)
627.3 | 716.3 | +14.2% | |
100.0% | 100.0% | - | |
338.6 | 380.2 | +12.3% | |
54.0% | 53.1% | -0.9p | |
222.4 | 265.0 | +19.1% | |
35.5% | 37.0% | +1.5p | |
116.1 | 115.2 | -0.8% | |
18.5% | 16.1% | -2.4p | |
3.2 | 1.8 | -43.5% | |
0.5% | 0.3% | -0.2p | |
119.4 | 117.0 | -2.0% | |
19.0% | 16.3% | -2.7p | |
14.8 | 9.7 | -34.2% | |
2.4% | 1.4% | -1.0p | |
134.2 | 126.8 | -5.5% | |
21.4% | 17.7% | -3.7p | |
93.5 | 85.0 | -9.1% | |
14.9% | 11.9% | -3.0p | 3 |
Group: FY2023 1Q Main Points
・Revenue: ¥716.3bln (+14.2% y/y), operating profit: ¥117.0bln(−2.0% y/y).
Profit from UNIQLO Mainland China declined sharply on COVID-19restrictions.
UNIQLO Japan sales struggled, and profit dipped due to warm November weather, but sales picked up sharply in December and performance is recovering.
・Except for Greater China region and Japan, UNIQLO reported large revenue, profit gains in all markets. Record results for SE Asia, N. America, Europe (ex. Russia). ・GU reported large revenue and profit gains. Back on an expansive growth track.
・Decline in consolidated profit was small thanks to diversified earnings pillars. ・In a global inflationary environment, LifeWear sold well in all markets as high- quality everyday wear offered at affordable prices for a wide range of customers. Now in a position to further expand sales.
・1Q below target. Large revenue gains (double-digit same-storesales growth) for UNIQLO in all markets except Mainland China and for GU in December above plan.
・Expect to achieve consolidated forecasts for FY2023 first half and full year. | 4 |
Group: FY2023 1Q Operating Profit
¥716.3bln
Revenue
¥627.3bln → ¥716.3bln (+¥89.0bln)
Group | +¥89.0bln |
UQ Japan | +¥14.5bln |
UQ Intl. | +¥58.1bln |
GU | +¥9.5bln |
Global Brands | +¥6.8bln |
Average forex impact +8.5% y/y
Group | +8.5% |
USD | +28.7% |
RMB | +16.7% |
EUR | +9.3% |
KRW | +7.8% |
+14.2%
Gross profit margin 54.0%→ 53.1%(−0.9p)
Group | −0.9p |
UQ Japan | −1.1p |
UQ Intl. | −1.2p |
GU | +0.5p |
¥380.2bln +12.3%
SG&A ratio
35.5%→ 37.0% (+1.5p)
Group | +1.5p |
UQ Japan | +0.8p |
UQ Intl. | +2.8p |
GU | +0.2p |
¥265.0bln +19.1%
Foreign exchange gain: ¥1.5bln
¥115.2bln | ¥1.8bln | ¥117.0bln | ||
−0.8% | −2.0% | |||
SG&A | ||||
Other | ||||
income/expenses |
FY2023 | FY2023 | FY2023 | FY2023 | |
1Q | 1Q | 1Q | 1Q | 5 |
Revenue | Gross profit | Business profit | Operating profit | |
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Fast Retailing Co. Ltd. published this content on 12 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2023 06:19:11 UTC.