Fast Retailing (9983) Q2 2026 earnings summary

Executive summary

• Achieved record first-half revenue and profit, exceeding internal estimates, driven by strong performances from UNIQLO Japan and UNIQLO International, with revenue up 14.8% year-over-year to ¥2.055 trillion and business profit up 28.3% to ¥386.9 billion.

• Profit attributable to owners rose 19.6% year-over-year to ¥279.3 billion; basic EPS increased to ¥910.25.

• Growth driven by strong global demand for UNIQLO, robust sales of both winter and year-round products, and improved operational efficiency.

• GU segment saw significant profit growth due to operational reforms, despite only a slight revenue increase.

• Global Brands segment posted a revenue decline and operating loss, mainly due to weak Theory sales in the US.

Financial highlights

• First-half revenue rose 14.8% year-over-year to ¥2,055.2 billion; business profit up 28.3% to ¥386.9 billion.

• Operating profit up 31.7% to ¥400.7 billion; profit before income taxes up 17.9% to ¥428.8 billion.

• Gross profit margin improved by 0.8p to 54.1%; business profit margin increased by 1.9p to 18.8%; SG&A ratio improved by 1.2p to 35.3%.

• Profit attributable to owners of the parent increased 19.6% year-over-year to ¥279.2 billion.

• Total assets increased to ¥4.299 trillion; equity attributable to owners rose to ¥2.632 trillion.

Outlook and guidance

• Full-year revenue estimate revised upward to ¥3,900.0 billion (+14.7% year-over-year); business profit forecast at ¥690.0 billion (+25.2%).

• Profit attributable to owners of the parent projected at ¥480.0 billion (+10.9% year-over-year); basic EPS forecast raised to ¥1,564.39.

• Double-digit revenue and profit growth expected for UNIQLO International and GU in 2H and full FY2026.

• Dividend per share revised up to ¥640 for FY2026 (+¥140 year-over-year).

• Upward revision reflects strong first-half results, improved second-half assumptions, and yen depreciation.